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02-11-2022
Business

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on january 1, year 1, raven limo service, incorporated paid $76,000 cash to purchase a limousine. the limo was expected to have a five-year useful life and a $19,500 salvage value. on january 1, year 5 the limo was sold for $20,500 cash. assuming raven uses straight-line depreciation, the company would recognize a:

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