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On July 1, 20X6, Amir Communications purchased a new piece of equipment that cos...
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On July 1, 20X6, Amir Communications purchased a new piece of equipment that cost $65,000. The estimated useful life is 10 years and estimated residual value is $5,000. Assume Amir Communications purchased the equipment on January 1, 20X6. If Amir uses the straight-line method for depreciation, what is the asset's book value at the end of 20X7?
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