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Revision of Depreciation People's Clinic purchased a special machine for use in its laboratory on January 2, 2016. The machine cost $100,000 and was expected
Revision of Depreciation People's Clinic purchased a special machine for use in its laboratory on January 2, 2016. The machine cost $100,000 and was expected to last 10 years. Its salvage value was estimated to be $6,000. By early 2018, it was evident that the machine will be useful for a total of only seven years. The salvage value after seven years was estimated to be $7,500. People's Clinic uses straight-line depreciation. Compute the proper depreciation expense on the machine for 2018. Depreciation Expense for 2018: $ 0
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