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On January 1, 2008 an asset was acquired for $30,000. Its useful life was expected to be 10 years and the salvage value is expected
On January 1, 2008 an asset was acquired for $30,000. Its useful life was expected to be 10 years and the salvage value is expected to be $0. After four years of use, the company realized the asset would be useful for only three more years. (In other words, the total useful life of the asset will be seven years instead of the original 10 years.) The company uses the straight-line method of depreciation. The Depreciation Expense in each of the years 2012, 2013, and 2014 will be $___
3000 |
6000
7000 |
8000 |
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