S9-6 (similar to) Question Help Assume that Micron Precision paid 542,000 for equipment with a 14-year life and zero expected residual value. After using the equipment for six years, the company determines that the asset will remain useful for only four more years. Read the requirements. Requirement 1. Record depreciation expense on the equipment for year 7 by the straight-line method. First, select the formula to calculate the company's revised depreciation expense on the equipment for year 7. Then enter the amounts and calculate the depreciation for year 7. (Enter "0" for items with a zero value.) Revised depreciation Requirements - X 1. Record depreciation expense on the equipment for year 7 by the straight-line method. 2. What is accumulated depreciation at the end of year 7? Print Done Choose from any drop-down list and then click Check Answer. ? 3 parts Clear All remaining Check