When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $28,000
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Question:
When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $28,000 and its estimated salvage value is $1,500. After 4 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage value. The depreciation expense in year 5 equals:
Group of answer choices:
$5,375.00
$6,625.00
$13,750.00
$2,856.25
$2,687.50
Expert Answer:
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