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An asset was purchased for $90,000 (Jan 1, Year 1). It had an estimated salvage value of $10,000 and an estimated useful life of 8
An asset was purchased for $90,000 (Jan 1, Year 1). It had an estimated salvage value of $10,000 and an estimated useful life of 8 years. At the beginning of Year 4, the estimated useful life is revised to be a total of 5 years but the estimated salvage value is not changed. Assuming straight- line depreciation, depreciation expense in Year 5 would be
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