Question: A building was purchased for $ 6 8 , 5 0 0 . The asset has an expected service life of eight years and depreciation

A building was purchased for $68,500. The asset has an expected service life of eight years and depreciation expense each year is $4,000 using the straight-line method. What is the residual value of the building?
Multiple Choice
$36,500
$0
$8,562
$13,562

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