Question: * * * * Sunset Cafe purchased new cooking equipment for $ 9 2 , 0 0 0 . It has an estimated useful life

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Sunset Cafe purchased new cooking equipment for $92,000. It has an estimated useful life of 8 years and a residual value of $8,000. Using straight-line depreciation, calculate the balance in the accumulated depreciation account at the end of the third year.

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