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Maurt Company purchased equipment in January of 2010 for $200,000. The equipment was being depreciated on the straight-line method over an estimated useful life of
Maurt Company purchased equipment in January of 2010 for $200,000. The equipment was being depreciated on the straight-line method over an estimated useful life of 20 years, with no salvage value. At the beginning of 2020, when the equipment had been in use for 10 years, the company paid $25,000 to overhaul the equipment. As a result of this improvement, the company estimated that the useful life of the equipment would be extended an additional 5 years. The amount to record for depreciation expense on this equipment in 2020- should be
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