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Pharoah Company purchased equipment in January of 2 0 1 6 for $ 4 0 7 0 0 0 . The equipment was being depreciated
Pharoah Company purchased equipment in January of for $ The equipment was being depreciated on the straightline method over an estimated useful life of years with no salvage value. At the beginning of when the equipment had been in use for years, the company paid $ to overhaul the equipment. As a result of this improvement, the company estimated that the useful life of the equipment would be extended an additional years. What amount of depreciation expense will be recorded for this equipment in
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