An asset was purchased for $119,000 on January 1, Year 1 and was originally estimated to have a useful life of 12 years with a residual value of $13,000. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $1,800. Calculate the third-year depreciation expense using the revised amounts and straight-line method.

a.$25,883.33

b.$25,383.33

c.$24,883.33

d.$23,883.33

Computer equipment was acquired at the beginning of the year at a cost of $67,800 that has an estimated residual value of $4,600 and an estimated useful life of 5 years.

a. Determine the depreciable cost. $

b. Determine the straight-line rate. %

c. Determine the annual straight-line depreciation. $