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Relaford Corporation purchased a piece of equipment for $56,700. It estimated an 6-year life and $1,980 salvage value. At the end of year 3 (before
Relaford Corporation purchased a piece of equipment for $56,700. It estimated an 6-year life and $1,980 salvage value. At the end of year 3 (before the depreciation adjustment), it estimated the new total life to be 8 years and the new salvage value to be $4,250. Compute the revised annual depreciation. Company uses straight-line depreciation method. (Round answers to 0 decimal places, e.g. 125.)
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