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Brief Exercise 11-7 Pharoah Company purchased a computer for $8,080 on January 1, 2016. Straight-line depreciation is used, based on a 5-year life and a
Brief Exercise 11-7 Pharoah Company purchased a computer for $8,080 on January 1, 2016. Straight-line depreciation is used, based on a 5-year life and a $1,010 salvage value. In 2018, the estimates are revised. Pharoah now feels the computer will be used until December 31, 2019, when it can be sold for $505 Compute the 2018 depreciation. (Round answer to 0 decimal places, e.g. 45,892.) Depreciation expense, 2018
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