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A piece of equipment is purchased on 1/1/2009 and booked for $8,000 with a salvage value of $500 and a useful life of 7 years.
| A piece of equipment is purchased on 1/1/2009 and booked for $8,000 with a | |||
| salvage value of $500 and a useful life of 7 years. For the first 2 years | |||
| double declining balance was used. Starting in year 3, the method | |||
| was switched to the straight-line method with the useful life extended to 9 years. | |||
| What will be the amount of depreciation recorded in 2011? | |||
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Financial Accounting
Authors: Jr. Belverd E. Needles, Marian Powers
9th Edition
0547070020, 978-0547070025
