A video recording system was purchased 3 yearsago at a

Chapter 16, Problem 16.23

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A video recording system was purchased 3 yearsago at a cost of $40,000. A 5-year recovery periodand DDB depreciation have been used to write offthe basis. The system is to be replaced this year witha trade-in value of $4000. What is the difference betweenthe book value and the trade-in value?

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