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A depreciable asset currently has a $24,500 book value. The company owning the asset uses straight-line depreciation. They paid $37,000 for this asset and consider it to have a $2,000 salvage value with a seven year useful life. How long has the company owned this asset? a. 2.5 years. b. 2.36 years. c. 2.1 years. d. 7 years. e. Cannot be determined from the given information

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