A plant asset was purchased on January 1 for $ 59200 with an estimated salvage value of

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Question:

A plant asset was purchased on January 1 for $59200 with an estimated salvage value of $15000 at the end of its useful life. The current year's depreciation expense is $3400 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $23800. The remaining useful life of the plant asset is

17 years.

7 years.

13 years.

6 years.