Question
Equipment was purchased at the beginning of 2016 for $1,700,000. At the time of its purchase, the equipment was estimated to have a useful life
Equipment was purchased at the beginning of 2016 for $1,700,000. At the time of its purchase, the equipment was estimated to have a useful life of six years and a salvage value of $200,000. The equipment was depreciated using the straight-line method of depreciation through 2018. At the beginning of 2019, the estimate of useful life was revised to a total life of ten years (from the beginning Jan 1, 2016) and the expected salvage value was changed to $50,000.
9. The amount to be recorded for depreciation for 2019, reflecting these changes in estimates, is $??
EXACT AMOUNT DONT ROUND
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