On January 1, equipment is purchased for $55,000 with an 8-year life expectancy and salvage value of $5,000. If the double-declining-balance method is used, calculate the book value of the equipment at the end of year 2.

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The Answer of On January 1, equipment is purchased for $55,000 with an 8-year life expectancy and salvage value of $5,000. If the double-declining-balance method is used, calculate the book value of the equipment at the end of year 2.

On January 1, Equipment Is Purchased for $55,000 with an 8-Year