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The Digby team has just purchased $39,660,000 of plant and equipment that has an estimated useful life of 15 years.

The Digby team has just purchased $39,660,000 of plant and equipment that has an estimated useful life of 15 years.  Suppose at the end of 15 years this plant and equipment can be salvaged for $3,966,000 (1/10th of its original cost).  What will be the book value of this purchase (excluding all other Plant and Equipment) after its first year of use?
A. $37,016,000
B. $33,314,400
C. $35,694,000
D. $37,280,400

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