Thomas Enterprises purchased a depreciable asset on October 1, 2008 at a cost of $100,000. The asset is expected to have a salvage value of $15,000…

Thomas Enterprises purchased a depreciable asset on October 1, 2008 at a cost of $100,000. The asset is expected to have a salvage value of $15,000 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset’s book value on December 31, 2010 will be:

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