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On January 1, 20x2, Astro Ltd. purchased a piece of equipment costing $78,658. At the time, the equipment's useful life was expected to be 10
On January 1, 20x2, Astro Ltd. purchased a piece of equipment costing $78,658. At the time, the equipment's useful life was expected to be 10 years with an estimated residual value of $14,378. In 20x6, these estimates were revised: the total estimated useful life of the equipment is expected to be 13 years and the residual value is expected to be $8,651. What will the depreciation expense be for 20x6? Assume the company uses straight-line depreciation. Round to the nearest whole dollar
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