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An asset was purchased for $220000. It had an estimated salvage value of $50000 and an estimated useful life of 10 years. After 5 years
An asset was purchased for $220000. It had an estimated salvage value of $50000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $43000 but the estimated useful life is unchanged. Assuming straight-line depreciation, depreciation expense in Year 6 would be $18400. $28333. $34000. $23000
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