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Machinery after two years worth of depreciation has an opening book value of $6,400. At the beginning of the third year, the predicted number
Machinery after two years worth of depreciation has an opening book value of $6,400. At the beginning of the third year, the predicted number of years remaining in its useful life changes from three years to four years and its estimated residual value changes from the original $1,000 to $400. The revised annual depreciation using the straight-line method is $1,500. True False
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