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ALT-DEPRECIATION REVISION Johnson Company purchased a truck for $60,000, that had a life of 10 years and salvage value of $8,000. They depreciated the asset

ALT-DEPRECIATION REVISION
Johnson Company purchased a truck for $60,000, that had a life of 10 years and salvage value of
$8,000. They depreciated the asset for 3 years, straight line. At the end of year 3,
the company estimated that the remaining life was 4 years, with salvage value of $8,000.
What was the original depreciation amount per year? 0
What was the total accumulated depreciation after 3 years? 0
What was the book value after 3 years? 0
What is the new annual depreciation amount for the next 4 years? 0
What is the final book value after the next 4 years? 0

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