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Mr. Dubey • 100.69K Points
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Q. Your accounting records indicate that an asset in use has a book value of $8,640. The asset cost $30,000 when it was purchased, and it has been depreciated under the 5 MACRS method. Based on the information available, determine how many years the asset has been in service.

  • (A) 5 years
  • (B) 6 years
  • (C) 4 years
  • (D) 3 years
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