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An asset was purchased for $60,000 and originally estimated to have a useful life of 10 years with a residual value of $3,000. After two
An asset was purchased for $60,000 and originally estimated to have a useful life of 10 years with a residual value of $3,000. After two years of straight line depreciation, it was determined that the remaining useful life of the asset was only 2 years with a residual value of $2,000. Calculate this years depreciation using the revised amounts and straight line method.
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