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Relaford Corporation purchased a piece of equipment for $55,900. It estimated an 7-year life and $3,500 salvage value. At the end of year 4 (before
Relaford Corporation purchased a piece of equipment for $55,900. It estimated an 7-year life and $3,500 salvage value. At the end of year 4 (before the depreciation adjustment), it estimated the new total life to be 9 years and the new salvage value to be $5,610. Compute the revised depreciation. Company uses straight-line depreciation method. (Round answers to 0 decimal places, e.g. 125.)
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