Question: On January 1 2014 Kaldex Company purchased for 35 720 equipment
On January 1, 2014, Kaldex Company purchased for $35,720 equipment with an estimated useful life of eight years and an estimated residual value at the end of its life of $4,200. Early in January of 2017, it was determined that the total estimated useful life on the equipment should be 10 years with a revised estimated residual value of $1,570. Kaldex uses the straight-line method to calculate depreciation and its year-end is December 31. Calculate revised depreciation for 2017.
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