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Ivanhoe Company bought a machine on January 1, 2017. The machine cost $124000 and had an expected salvage value of

$28000. The life of the machine was estimated to be 5 years. The company uses the straight-line method of depreciation. The book value of the machine at the beginning of the third year would be

a. $96000.

b. $124000.

c. $38400.

d. $85600.

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