Question 13 Not yet answered Equipment was purchased at the beginning of 2015 for $ 205,000. At the time of its purchase, the equipment was estimated to have a useful life of five years and a salvage value of $25,000. The equipment was depreciated using the straight-line method. At the beginning of 2018, the estimate of useful life was revised to a TOTAL life of seven years (to 1/1/22) and the expected salvage value was changed to $13,000. The amount to be recorded for depreciation for 2018, reflecting these changes in estimates, is: Points out of 3.00 Flag question Select one: a. $12,000 b. $24,250 c. $21,000 d. $13,857 e. $11,714 Question 14 Not yet answered During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value of the land after the mineral has been removed. Geological surveys have indicated that 10 million units of the mineral could be extracted. During 2017, 1,500,000 units were extracted and 1,200,000 units were sold. What is the amount of depletion affecting the 2017 income statement? Points out of 3.00 Flag question Select one: O a. $130,000 b. $156,000 c. $180,000 d. $195,000 e. $225,000 Question 15 An example of a contract-related intangible asset is a Not yet answered Points out of 3.00 Select one: a. a. franchise b. copyright Flag question c. patent d. customer list