Question: please help in solving On January 2, Year 1, Torres Company purchased equipment costing $75,600. The equipment has an estimated salvage value of 57,560 and

please help in solving
please help in solving On January 2, Year 1, Torres Company purchased

On January 2, Year 1, Torres Company purchased equipment costing $75,600. The equipment has an estimated salvage value of 57,560 and an estimated useful life of 15 years Torres Company uses straight-line depreciation. On January 5 of Year 4, new information suggests that the equipment will have a total useful wife of 9 years and a revised salvage value of $6,840 Required: 1. Compute depreciation expense for Year 4. 2. Compute the book value of the equipment at the end of Year 4. 1. Depreciation expense for Year 4 2. Book value at the end of Year 4 0 30 2

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