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Hoover Corporation purchased equipment on January 1,2019,for$610,000.In 2019 and 2020,Hoover depreciated the asset on a straight-line basis with an estimated useful life of eight years
Hoover Corporation purchased equipment on January 1,2019,for$610,000.In 2019 and 2020,Hoover depreciated the asset on a straight-line basis with an estimated useful life of eight years and a$10,000 residual value.In 2021,due to changes in technology,Hoover revised the useful life to a total of four years with no residual value.What depreciation would Hoover record for the year 2021 on this equipment?(Round your answer to the nearest dollar amount.)
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