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    Asset Carrying Amount

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    Spiro Corp uses the sum-f-the-years digits method to depreciate equipment purchased in January 1996 for 20,000. The estimated salvage value of the equipment is 2,000 and the estimated useful life is four years. What should Spiro report as the asset's carrying amount as of December 31, 1998?

    a) 1800
    b) 2000
    c) 3800
    d) 4500.

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    Solution Summary

    This solution calculates the asset's carrying amount for Spiro Corp.