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Nanki Corporation purchased equipment on January 1, 2016, for $619,000. In 2016 and 2017, Nanki depreciated the asset on a straight-line basis with an estimated
Nanki Corporation purchased equipment on January 1, 2016, for $619,000. In 2016 and 2017, Nanki depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $7,000 residual value. In 2018, due to changes in technology, Nanki revised the useful life to a total of 4 years with no residual value. What depreciation would Nanki record for the year 2018 on this equipment? (Round your answer to the nearest dollar amount.)
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