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A pressurized spray painter was purchased on September 1 of the fiscal year for $4,800. It has a useful life of 4 years and a

A pressurized spray painter was purchased on September 1 of the fiscal year for $4,800. It has a useful life of 4 years and a residual value of $500. Determine depreciation expense and accumulated depreciation for the first three years, assuming a fiscal year end of December 31 and using the straight line method.

	Year #1	Year #2	Year #3
Cost
Accumulated Depreciation
Book Value

Depreciation Expense

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