On January 1, 2017, Terrys Towing Service owned 4 tow trucks valued at $300,000. During 2017, Terrys
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On January 1, 2017, Terry’s Towing Service owned 4 tow trucks valued at $300,000. During 2017, Terry’s bought 2 new trucks for a total of $180,000. At the end of 2017, the market value of all of the firm’s trucks was $400,000. What was Terry’s gross investment? Calculate Terry’s depreciation and net investment.
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