On July $1,2023,$ Coronado Company purchased factory equipment for $$690000$ with an estimated salvage value of $$30800.$ The estimated useful life for the equipment is $10$ years. During $2023,2024,$ and $2025$ the equipment is depreciated using the straight$-$line method. During $2026,$ $$88000$ is spent to improve the equipment's efficiency and prolong its useful life. The new useful life is expected to be $10$ years beginning in $2026$ and the revised salvage value is $$45100.$ What is depreciation expense on the equipment for $2026?$

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Answer Coronado Company Depreciation Expense in 2026 Background Original cost 690000 Salvage value b... View the full answer