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On January 1, 2018, Sheridan Corp. purchased a machine for $908000. The machine was being depreciated using the straight-line method over an estimated useful life
On January 1, 2018, Sheridan Corp. purchased a machine for $908000. The machine was being depreciated using the straight-line method over an estimated useful life of eight years, with a $83000 residual value. At the beginning of 2023, the company determined that the machine's useful life was underestimated, it should have been 10 years; however, this would result in $0 residual value. The depreciation expense for 2023 should be O $68100. O $95075. O $78475. O $90800
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