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Equity Company purchases and places in service an asset for $250,000 on January 1, 2017.Equity estimated that the asset's useful life would be 5 years
Equity Company purchases and places in service an asset for $250,000 on January 1, 2017.Equity estimated that the asset's useful life would be 5 years and that it would have a salvage value of $50,000. Equity uses straight-line depreciation.On January 1, 2019, Equity Company reevaluates the asset and changes its original estimates on the machine.It is estimated that its remaining useful life will be 5 more years and its salvage value will be $25,000. Depreciation expense for the machine for 2019 will be what?
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