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1322-11]! (Change in EstimateDepreciation} 1|:.Iia Rio Co. purchased equipment for $1,m, which was estimated to have a useful life of 15 years with a salvage

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1322-11]! (Change in EstimateDepreciation} 1|:.I"ia Rio Co. purchased equipment for $1,m, which was estimated to have a useful life of 15 years with a salvage value of $25M at the end of that time. Depreciation has been entered for 5 years on a straightline basis. In 2015, it is determined that the total estimated life should be 11] years with no salvage value at the end of that time. Instructions {all Prepare the entryF [if any) to correct the prior vears' depreciation. lb} Prepare the entry to record depreciation for 21315

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