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PROBLEM 4(8 points) Assume that a company acquires a $20,000 asset estimated to have a six-year useful life and a $2,000 residual value. At the

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PROBLEM 4(8 points) Assume that a company acquires a $20,000 asset estimated to have a six-year useful life and a $2,000 residual value. At the beginning of the third year, management decides that the asset will last for six more years. The revised estimate of useful life is, therefore, a total of eight years. Residual value stays at $2,000 Calculate the depreciation expense for the fourth year and for each of the remaining years

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