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please help in solving! On January 2 Year 1, Powell Company purchased equipment costing $21,600. The equipment has an estimated salvoue value of $3,240 and

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On January 2 Year 1, Powell Company purchased equipment costing $21,600. The equipment has an estimated salvoue value of $3,240 and an estimated ustu life of 12 years Powell Company uses straight-line depreciation. On January 5 of Year 6, new information suggests that the equipment will have a total useful life of 11 years and a revised salvage value of $1,000 Required: 1. Compute depreciation expense for Year 6. 2. Compute the book value of the equipment at the end of Year 6. 50 1. Depreciation expense for Year 6 2. Book value at the end of Year 6 X

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