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Equipment with a cost of $76,968, an estimated residual value of $5,124, and an estimated life of 14 years was depreciated by the straight-line method
Equipment with a cost of $76,968, an estimated residual value of $5,124, and an estimated life of 14 years was depreciated by the straight-line method for 6 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 5 years and the residual value changed to zero. The depreciation expense for the current and future years is a. $4,197.97 b. $3,298.41 c. $15,392.57 d. $30,790.29
Equipment with a cost of $76,968, an estimated residual value of $5,124, and an estimated life of 14 years was depreciated by the straight-line method for 6 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 5 years and the residual value changed to zero. The depreciation expense for the current and future years is
a. $4,197.97
b. $3,298.41
c. $15,392.57
d. $30,790.29
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
9th edition
290-1259222138, 1259222136, 978-1259222139
