Associated Clinic purchased a special machine for use in its laboratory on January 2 of Year 1 The machine cost $124,000 and was expected to last 10 years Its salvage value was estimated to be $6,000 By early Year 3, it was evident that the machine will be useful for a total of only seven years The salvage value after seven years was estimated to be $7,500 Associated Clinic uses straight line depreciation Compute the proper depreciation expense on the machine for Year 3 Round your answers to the nearest dollar Depreciation Expense for Year 3 Revision of Depreciation Associated Clinic purchased a special machine for use in its laboratory on January 2 of Year 1 The machine cost $124,000 and was expected to last 10 years Its salvage value was estimated to be $6,000 By early Year 3, it was evident that the machine will be useful for a total of only seven years The salvage value after seven years was estimated to be $7,500 Associated Clinic uses straight line depreciation Compute the proper depreciation expense on the machine for Year 3 Round your answers to the nearest dollar Depreciation Expense for Year 3 $

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Associated Clinic purchased a special machine for use in its laboratory on January 2 of Year 1. The machine cost $124,000 and was expected to

Associated Clinic purchased a special machine for use in its laboratory on January 2 of Year 1. The machine cost $124,000 and was expected to last 10 years. Its salvage value was estimated to be $6,000. By early Year 3, it was evident that the machine will be useful for a total of only seven years. The salvage value after seven years was estimated to be $7,500. Associated Clinic uses straight-line depreciation. Compute the proper depreciation expense on the machine for Year 3. Round your answers to the nearest dollar. Depreciation Expense for Year 3 image text in transcribed

Revision of Depreciation Associated Clinic purchased a special machine for use in its laboratory on January 2 of Year 1 . The machine cost $124,000 and was expected to last 10 years. Its salvage value was estimated to be $6,000. By early Year 3, it was evident that the machine will be useful for a total of only seven years. The salvage value after seven years was estimated to be $7,500. Associated Clinic uses straight-line depreciation. Compute the proper depreciation expense on the machine for Year 3 . Round your answers to the nearest dollar. Depreciation Expense for Year 3: $