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Show all work. Enter the answers for each problem legibly on the Cover Sheet. Submit before due date/time on Blackboard in a single pdf file.

A combine used for harvesting corn was purchased new 6 years ago for $400,000 with the intention of using it for its full asset life of 20 years (when its salvage value would be zero). It has a book value of $125,543 and can be sold for $130,000 now.  

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