Question: Your answer is incorrect. Sheridan plc purchased a computer for 7,360 on January 1, 2021. Straight-line depreciation is used, based on a 5-year life and

Your answer is incorrect. Sheridan plc purchased a computer for 7,360

Your answer is incorrect. Sheridan plc purchased a computer for 7,360 on January 1, 2021. Straight-line depreciation is used, based on a 5-year life and a 920 residual value. In 2023, the estimates are revised. Sheridan now feels the computer will be used until December 31, 2024, when it can be sold for 460. Compute the 2023 depreciation. Depreciation expense, 2023 2162

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