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Smart Hardware purchased new shelving for its store on April 1, 2011. The shelving is expected to have a 20-year life and no residual value. The following expenditures were associated with the purchase:
c. Which of the depreciation methods applied in part a resulted in the lowest reported book value at the end of 2014? Is book value an estimate of an asset's fair value? Explain.
An estimated million students take on student loans to pay ever-rising tuition and room and board (The New York Times, April 17, 2009). It is also known that the average cumulative debt of recent college graduates is about . Let the cumulative debt among recent college graduates be normally distributed with a standard deviation of . Approximately how many recent college graduates have accumulated student loans of more than ?