A building that was purchased December 31, 1995, for 2,500,000 was originally estimated to have a life

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A building that was purchased December 31, 1995, for £2,500,000 was originally estimated to have a life of 50 years with no residual value at the end of that time. Depreciation has been recorded through 2019. During 2020, an examination of the building by an engineering firm discloses that its estimated useful life is 15 years after 2019. What should be the amount of depreciation for 2020?
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Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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