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On January 1, 2016, Bakersfield bought a building that cost $85,000, had an estimated useful life of ten years, and had a salvage value of

On January 1, 2016, Bakersfield bought a building that cost $85,000, had an estimated useful life of ten years, and had a salvage value of $5,000. Bakersfield uses the straight-line depreciation method to depreciate the building. In 2020, it was determined that the total useful life should be eight years and the salvage value was $8,000. Depreciation expense reported on the 2020 income statement would be:

$10,000

$11,250

$8,000

$9,000

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