1) The Chester Company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,090,000. What will the book value of this purchase (exclude all other plant and equipment) be after its third year of use? (Use FASB GAAP)
[removed]
$33,538,000
[removed]
$35,446,667
[removed]
$29,448,000
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$32,720,000
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