Steel Corp. purchases equipment and places it in service for a total cost of $85,500. The equipment will have a useful life of 20,000 hours and have a salvage value of $3,500. In year 2 the equipment runs a total of 4,150 hours. 

What is the depreciation expenses for year 2?

Answer rating: 100% (QA)

First we need to calculate the depreciation expense per ho... View the full answer