On October 1, 2017, Holt Company places a new asset into service. The cost of the asset is $120,000 with an estimated 5-year life and $30,000 salvage value at the end of its useful life ,the depreciation rate is 20%. What is the book value of the plant asset on the December 31, 2017, balance sheet assuming that Holt Company uses the double-declining-balance method of depreciation?
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On October 1, 2017, Holt Company places a new asset into service. The
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