Question 27 (3 points) X Ltd. uses the straight line method of depreciation. On January 1, year 1, X. Ltd. purchased equipment for $ 480000. At the time of the purchase, the equipment was estimated to have a useful life of 18 years and to have a residual value of $ 28000. At the beginning of year 4 the company revised its estimate of the useful life to 18 years total and the residual value to 36000. Calculate depreciation expense for year 4. Round your answer to the nearest dollar. Your Answer: Answer Question 28 (3 points) At the beginning of the year, X Ltd. had a credit balance of $10000 in its allowance for doubtful accounts. During the year X. Ltd. had wrote off $28000 of accounts receivable and had recoveries of $3500. At the end of the year, using the aging method, x Ltd, determined that a balance of $62000 was required in its allowance for doubtful accounts. What was X. Ltd.'s bad debt expense for the year? Your