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Marigold Company purchased equipment on January 1, 2019, for $72,240 with an estimated salvage value of $20,160 and estimated useful life of 8 years. On
Marigold Company purchased equipment on January 1, 2019, for $72,240 with an estimated salvage value of $20,160 and estimated useful life of 8 years. On January 1, 2021, Marigold decided the equipment will last 12 years from the date of purchase. The salvage value is still estimated at $20,160. Using the straight-line method the new annual depreciation will be: New annual depreciation $ 3192
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