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Lamont Communications has depreciated an asset on a straight-line basis since it was acquired on 1/1/2013 at a cost of $30 million with zero residual
Lamont Communications has depreciated an asset on a straight-line basis since it was acquired on 1/1/2013 at a cost of $30 million with zero residual value. On 1/1/2016 management decided that the benefits from the asset would be received over a total period of 5 years rather than 10-year life being used. What is the 2016 depreciation expense associated with the asset?
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