A company has a building that it originally bought for $500,000. As of 12/31/2012, there...
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A company has a building that it originally bought for $500,000. As of 12/31/2012, there is $100,000 of Accumulated Depreciation on the building (it was being straight-line depreciated over 20 years with $100,000 salvage value). On 1/1/2013, the company decides to change the remaining useful life to 5 years (starting now) with a $200,000 salvage value.
What will be the depreciation on the building in 2013?
$15,000
$60,000
$40,000
$20,000
$30,000
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