Question: ACCT 202; CHAPTER 11; #7 Crane Limited purchased a computer for $7,800 on January 1, 2020. Straight-line depreciation is used for the computer, based on

ACCT 202; CHAPTER 11; #7

Crane Limited purchased a computer for $7,800 on January 1, 2020. Straight-line depreciation is used for the computer, based on a five-year life and a $1,000 residual value. In 2022, the estimates are revised. Crane now expects the computer will be used until December 31, 2023, when it can be sold for $550. Calculate the 2022 depreciation expense.

Depreciation Expense = $???

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