Question
10. An asset was purchased for $138,000 on January 1, Year 1 and originally estimated to...
10. An asset was purchased for $138,000 on January 1, Year 1 and originally estimated to have a useful life of 12 years with a residual value of $9,000. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,000. Calculate the third-year depreciation expense using the revised amounts and straight-line method
$27,625.00
b.$29,125.00
c.$28,625.00
d.$29,625.00
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