Equipment with a cost of $123,480, an estimated residual value of $5,880, and an estimated life of
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Question:
Equipment with a cost of $123,480, an estimated residual value of $5,880, and an estimated life of 14 years was depreciated by the straight-line method for 4 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 4 years and the residual value changed to zero. The depreciation expense for the current and future years is
A. $11,235
B. $33,600
C. $6,420
D. $14,980
Related Book For
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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