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The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date June 1, Year 1 Purchase price $111,700 Salvage value

The following information is available on a depreciable asset owned by Mutual Savings Bank:

Purchase date June 1, Year 1
Purchase price $111,700
Salvage value $11,600
Useful life 11 years
Depreciation method straight-line

The asset's book value is $93,500 on June 1, Year 3. On that date, management determines that the asset's salvage value should be $6,600 rather than the original estimate of $11,600. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:

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