On January 1, Year 1, Li Company purchased an asset that cost $110,000. The asset had an expected useful life of five years and an estimated salvage value of $22,000. Li uses the straight-line method for the recognition of depreciation expense. At the beginning of the fourth year, the company revised its estimated salvage value to $11,000. What is the amount of depreciation expense to be recognized during Year 4?

• $17,600

• $23,100

• $46,200

• $28,600

the other question

On January 1, Year 1, Friedman Company purchased a truck that cost $47,000. The truck had an expected useful life of 8 years and an $8,000 salvage value. Friedman uses the double-declining-balance method. What is the book value of the truck at the end of Year 1? (Do not round intermediate calculations.)

• $27,250

• $29,250

• $37,250

• $35,250