Score: 0.23 of 1 pt 3 of 7 (7 complete) HW Score: 71.78%, 5.02 of 7 pts W 89-6 (similar to) 15 Question Help Assume that CD Warehouse paid $84,000 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 Residual value Revised useful life remaining Book value 24000 ( . Requirements 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