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A company purchased equipment at the beginning of 2021 for $650,000. In 2021 and 2022 , the company depreciated the asset on a straight-line basis
A company purchased equipment at the beginning of 2021 for $650,000. In 2021 and 2022 , the company depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $10,000 residual value. At the beginning of 2023, due to changes in technology, the company revised the useful life to a total of six years (four more years) with zero residual value. What depreciation expense would the company record for the year 2023 on this equipment? Miliple Cholce $81667 $106.667 $108,333. $122,500
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