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Homework Answers
Value of equipment = $45,000 + $3,800 + $700 = $49,500
Depreciation per annum = ($49,500 - $4,500) / 5 = $9,000
Accumulated depreciation for 2 years = $9,000 X 2 = $18,000
| Equipment (Van) | $49,500 |
| Less: Accumulated depreciation | ($18,000) |
| Net book value at the end of year 2 | $31,500 |
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