7)

Cuso Company purchased equipment on AUGUST 1, 2021, at a total invoice cost of $400,000. The equipment has an estimated salvage value of $10,000 and an estimated useful life of 5 years. What is the DEPRECIATION EXPENSE ON DECEMBER 31ST 2021?

Please do not use "$" or commas in your final answer.

8)

FXN Company had an asset that had a book value of $90,100 on 12/31/2021. As of 12/31/2021 the asset had been depreciated for 2 years at $4950 depreciation expense each year. Starting in the year 2022, the company has increased the useful life of the asset from 20 years to 25 years. Salvage value remains at $1000.

What is the depreciation expense for 12/31/2022?

Group of answer choices

3873.91

3564.00

3917.39

3604.00

None of the above