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Family Farmers, LLC purchased a depreciable asset for $700,000 on January 1, 2010. The estimated salvage value is $70,000, and the estimated total useful life
Family Farmers, LLC purchased a depreciable asset for $700,000 on January 1, 2010. The estimated salvage value is $70,000, and the estimated total useful life is 10 years. The straight- line method is used for depreciation. In January 2013, Family Farmers changed its estimates to reflect an overall useful life of 5 years instead of the 10 years, with a salvage value of $201,000. What is 2013 depreciation expense? Multiple Choice O O $155,000 $189,000 $135,000 $203.000 $310,000
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