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The asset's book value is $70,000 on January 1 , Year 3 . On that date, management determines that the asset's salvage value should be
The asset's book value is
$70,000
on January 1 , Year 3 . On that date, management determines that the asset's salvage value should be
$5,000
rather than the original estimate of
$10,000
. Based on this information, the amount of depreciation expense the company should recognize during Year 3 would be:
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