On January 1, 2008, an asset was acquired for $30,000. Its useful life is expected to be 10 years and the salvage value is expected to be $0. After four years of use, the company realized that the asset would only be useful for three more years. (In other words, the total useful life of the asset will be seven years instead of the original 10 years.) The company uses the straight-line method of depreciation. The Depreciation Expense in each of the years 2012, 2013 and 2014 will be $___ ?

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The total depreciation expense over the useful life of the asset would be 30000 cos... View the full answer