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Your company purchased equipment on 1/1/2013 for $10,000. The equipment had an estimated salvage value of $3,000 and an estimated useful life of 5 years.
Your company purchased equipment on 1/1/2013 for $10,000. The equipment had an estimated salvage value of $3,000 and an estimated useful life of 5 years. At the beginning of 2015, the estimated salvage value changed to $1,000 and the equipment is expected to have a remaining useful life of 2 years. The company always uses straight line method of depreciation. What is the depreciation expense for 2015?
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