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Ventura Corporation purchased machinery on January 1,2015, for $840,000. The company used the sum-of-the-years'-digits method and no salvage value to depreciate the asset for the
Ventura Corporation purchased machinery on January 1,2015, for $840,000. The company used the sum-of-the-years'-digits method and no salvage value to depreciate the asset for the first two years of its estimated six-year life. In 2018, Ventura changed to the straight-line depreciation method for this asset. The following facts pertain: 2017 2018 $140,000 $140,000 Straight-line Sum-of-the-years-digits $240,000 $200,000 The amount that Ventura should report for depreciation expense on its 2017 income statement is $160,000 $140,000 $100,000 none of these
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