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Plummer Industries purchased a machine for $41,700 and is depreciating it with the straight line method over a life of 8 years, using a residual
Plummer Industries purchased a machine for $41,700 and is depreciating it with the straight line method over a life of 8 years, using a residual value of $2,500. At the beginning of the sixth year, an extraordinary repair was made costing $2,500, the estimated useful life was extended to 13 years, and no change was made to the estimated residual value. Calculate depreciation expense for year 6. (Do not round intermediate calculations.) |
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