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Sierra Corporation bought equipment on 1/1/2009

Sierra Corporation bought equipment on 1/1/2009
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Price: $7.99
Availability: In Stock
Model: A
Average Rating: 5 out of 5 Stars!

Sierra Corporation bought equipment on 1/1/2009. The equipment cost $180,000 and had an expected salvage value of $18,000. The life of the equipment was estimated to be 8 years. What is the depreciable cost of the equipment? What is the annual depreciation expense using the straight-line method? What is the book value of the equipment at the beginning of the forth year? What is the accumulated depreciation at the end of the fifth year? What is the gain or loss if the company sells the equipment for $50,000 at the end of the fifth year? NOTE: This question is NOT our property; we are only suggesting solution of this question.

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