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please help in solving On January 2, Year 1, Torres Company purchased equipment costing $75,600. The equipment has an estimated salvage value of 57,560 and

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On January 2, Year 1, Torres Company purchased equipment costing $75,600. The equipment has an estimated salvage value of 57,560 and an estimated useful life of 15 years Torres Company uses straight-line depreciation. On January 5 of Year 4, new information suggests that the equipment will have a total useful wife of 9 years and a revised salvage value of $6,840 Required: 1. Compute depreciation expense for Year 4. 2. Compute the book value of the equipment at the end of Year 4. 1. Depreciation expense for Year 4 2. Book value at the end of Year 4 0 30 2

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