When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $28,000 and its estimated salvage value is $1,500. After 4 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage value. The depreciation expense in year 5 equals: Group of answer choices
$5,375.00
$6,625.00
$13,750.00
$2,856.25
$2,687.50

Answer rating: 100% (QA)

ANSWER 268750 When originally purchased a vehicle costing 23000 had an estimated useful life of 8 ye... View the full answer