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Question Content Area An asset was purchased for $ 1 3 9 , 0 0 0 on January 1 , Year 1 , and originally

Question Content Area
An asset was purchased for $139,000 on January 1, Year 1, and originally estimated to have a useful life of 12 years with a residual value of $8,500. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $1,800. Compute the third-year depreciation expense using the revised amounts and straight-line method.
a. $28,862.50
b. $27,862.50
c. $29,862.50
d. $29,362.50

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