ABC Company purchased a piece of equipment on May 1, 2019 for $86,000.
The equipment was assigned a $9,000 residual value and an 8-year life.
It is estimated that the equipment will produce a total of 110,000 units
over its life.
During 2019, the equipment was used to produce 18,600 units.
Calculate the book value of the equipment at December 31, 2019 assuming
ABC Company is using the units-of-production method to depreciate the
equipment.

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