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Stuart Company purchased a piece of equipment costing $120,000 and is depreciating it assurning a 10-year life. The residual value was originally expected to be

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Stuart Company purchased a piece of equipment costing $120,000 and is depreciating it assurning a 10-year life. The residual value was originally expected to be $10,000. At the end of the fifth year, a major overhaul was completed at a cost of $55,000. The overhaul increased the efficiency of the equipment and increased the asset's useful life from 10 years to 13 years (IE B more years from the date of the overhaul. The residual valor did not changes How much is depreciation expense in the sixth year assuming straight-line depreciation

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