Global Enterprises Purchased a Machine on January 1,2020 for $22,500

question 11

Multiple Choice

Global Enterprises purchased a machine on January 1,2020 for $22,500.The machine had an estimated useful life of 10 years and an estimated residual value of $2,500.Assuming Global uses straight-line depreciation,what would be the book value of the machine on December 31,2024?

• A)$ 0
• B)$10,000
• C)$11,250
• D)$12,500

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Definitions:

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