Equipment was purchased that had a useful life of 5 years and a salvage value of $4000. It was depreciated using the straight line method.
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Equipment was purchased that had a useful life of 5 years and a salvage value of $4000. It was depreciated using

the straight line method. On the last day of the fourth year, the equipment was sold for $5000 and resulted in a loss of $7000. Using this information, compute the original cost of the equipment.

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