Question: BE10.7 (LO 1, 2) Holt plc purchased a computer for 8,000 on January 1, 2024. Straight-line depreciation is used, based on a 5-year life and

BE10.7 (LO 1, 2) Holt plc purchased a computer for £8,000 on January 1, 2024. Straight-line depreciation is used, based on a 5-year life and a £1,000 residual value. In 2026, the estimates are revised. Holt now feels the computer will be used until December 31, 2027, when it can be sold for £500. Compute the 2026 depreciation.

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