/ RINCIPLES OF ACCOUNTING Home My courses / PRINCIPLES OF ACCOUNTING General 102 - Question 7 Not yet answered A Company purchased equipment on January 1, 2016, for $60,000 with an estimated residual value of $15,000 and estimated useful life of 8 years. On January 1, 2018, the company decided the equipment will last 12 years from the date of purchase. The residual value is still estimated at $15,000. Using the straight-line method the new annual depreciation will be: Marked out of 1.00 Flag question Select one: O $3,375 O $.2,813. O $3,750. O $5,000 Next page Previous page be here to search