Practice Do It! Review 01

Monty Corp. purchased a piece of equipment for $75,300. It estimated an 8-year life and a $1,200 salvage value. At the end of year four (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $23,011. Compute the revised annual depreciation. (Round answer to 0 decimal places, e.g. 5,275.)

Revised annual depreciation

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