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On January 1, 2015, LI Company purchased an asset that cost $45,000. The asset had an expected useful life of five years and an estimated
On January 1, 2015, LI Company purchased an asset that cost $45,000. The asset had an expected useful life of five years and an estimated salvage value of $9,000. Li uses the straight-line method for the recognition of depreciation expense. At the beginning of the fourth year of usage, the company revised its estimated salvage value to $4,500. Based on this information, the amount of depreciation expense to be recognized at the end of 2018 is: $9.450 $7,200 $18,900. $11,700 O
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