Question: A building that was purchased December 31 1986 for 2 500 000
A building that was purchased December 31, 1986, for $2,500,000 was originally estimated to have a life of 50 years with no salvage value at the end of that time. Depreciation has been recorded through 2010. During 2011 an examination of the building by an engineering firm discloses that its estimated useful life is 15 years after 2010. What should be the amount of depreciation for 2011?
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