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Tops Co . purchases equipment for $ 1 2 , 0 0 0 and has been using straight - line depreciation, estimating a 5 -

Tops Co. purchases equipment for $12,000 and has been using straight-line depreciation, estimating a 5-year life and $500 salvage value. At the beginning of the third year, Tops decides to use the equipment for a total of 6-years with no salvage value. Compute the revised depreciation for the third year.
$2,375
$1,250
$1,850
$2,875
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