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Renewable Energles, Incorporated (REl) paid $120,000 to purchase a windmill. The windmill was expected to have an 8.year useful life and a $24,000 salvage value.

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Renewable Energles, Incorporated (REl) paid $120,000 to purchase a windmill. The windmill was expected to have an 8.year useful life and a $24,000 salvage value. At the beginning of the fifth year of operation REl changed the estimated salvage to $32.000. Assuming the compary uses the straight-lline method, the amount of accumulated depreciotion on the Year 6 balance sheet would be: Multiple Choice $48000) $72000 968,000 $58000

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