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If the book value (or carrying amount) of a PPE item is greater than the amount to be recovered through the asset's use or sale,
If the book value (or carrying amount) of a PPE item is greater than the amount to be recovered through the asset's use or sale, the asset is said to be Declined Impaired Accumulated Improved Exchanged On January 1, 2019, Friar Company purchased a machine for $180,000 that was expected to last 6 years and have a residual value of $16,000. On January 4, 2022, Friar Company paid $25,000 for improvements to the machine, which increased the total estimated useful life from 6 to 10 years and increased the residual value to $19,500. Friar uses straight-line depreciation. What amount of depreciation expense should be recorded for 2022? $14,780.71 $14,700.71 $14,680.71 $14,785.71
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