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Business, 11.03.2020 22:10 amohammad6

In year 1, Lawrence Corp. purchased equipment for $100,000. Lawrence uses straight-line depreciation over a 10-year useful life with no residual value for financial reporting purposes. In year 1, tax depreciation was $14,000. At the end of year 1, the carrying value for accounting purposes is , and the tax basis is .

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