Question: The asset's book value is $ 8 2 , 0 0 0 on January 1 , Year 3 . On that date, management determines that

The asset's book value is $82,000 on January 1, Year 3. On that date, management determines that the asset's salvage value should be $5,000 rather than the original estimate of $10,000. Based on this information, the amount of depreciation expense the company should recognize during Year 3 would be:

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