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The Giovanni Company purchased a tooling machine in 2009 for $120,000. The machine was being depreciated by the straight- line method over an estimated useful
The Giovanni Company purchased a tooling machine in 2009 for $120,000. The machine was being depreciated by the straight- line method over an estimated useful life of 20 years, with no salvage value. At the beginning of 2019, after 10 years of use. Giovanni paid $20,000 to overhaul the machine. Because of this improvement, the machine's estimated useful life would be extended an additional 5 years. What would be the depreciation expense recorded for the above machine in 2019? $7.333 $12.000 $4.000 $4,000 55.333
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