An asset was purchased for $134,000.00 on January 1, Year 1 and originally estimated to have a useful life of 10 years with a residual value of $8,500.00. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,000.00. Calculate the third-year depreciation expense using the revised amounts and straight line method. Select the correct answer. $27,725.00 $26,725.00 $25,725.00 $27,225.00 Previous Next