Question: 3 2 points On January 1 , Year 1 , Pete Company purchased manufacturing equipment for $ 1 2 0 , 0 0 0 .

32 points
On January 1, Year 1, Pete Company purchased manufacturing equipment for $120,000. Installation and delivery costs totaled $8,000. Yearly maintenance costs on the equipment are expected to be $6,000. The expected useful life is 8 years with a salvage value of $12,000.
What amount of accumulated depreciation expense would Pete Company report on its Year 3 balance sheet?
32 points On January 1, Year 1, Pete Company purchased manufacturing

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