Question: give correct answer in 10 mins i will thumb up thanks Question 3 (2 points) An entity purchased an asset on January 1, 2018 for

 give correct answer in 10 mins i will thumb up thanks

give correct answer in 10 mins i will thumb up thanks

Question 3 (2 points) An entity purchased an asset on January 1, 2018 for $300,000. The asset is being depreciated on a straight line basis over 10 years. The asset's residual value is $50,000. During 2021, the total useful life was re-estimated to be 8 years with a residual value of $80,000. What is the depreciation expense for the year 2021? Oa) $29,000 b) $25,000 Oc) $30,000 d) $18,125 5 11

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