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The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date Purchase price Salvage value Useful life Depreciation method July
The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date Purchase price Salvage value Useful life Depreciation method July 1, Year 1 $102,600 $10,200 12 years straight-line The asset's book value is $87,200 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $5,200 rather than the original estimate of $10,200. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be: Multiple Choice 0 $2,050.00 0 $1,983.04 0 $2,180.00 0 $1,795.00 0 $4,100.00
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