A petroleum refining and recovery service company, Cowboy Enterprises, purchased
$13,000 worth of equipment for reconditioning fuels in its storage tanks. The equipment has a functional life of 14 years and a salvage value of 5% of the purchased price. Use MACRS depreciation with a 10- year recovery period to determine the book value after 4 years.

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The Answer of A petroleum refining and recovery service company, Cowboy Enterprises, purchased
$13,000 worth of equipment for reconditioning fuels in its storage tanks. The equipment has a functional life of 14 years and a salvage value of 5% of the purchased price. Use MACRS depreciation with a 10- year recovery period to determine the book value after 4 years.

A Petroleum Refining and Recovery Service Company, Cowboy Enterprises, Purchased