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An asset was purchased for $131,000 on January 1, Year 1 and originally...

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Accounting

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An asset was purchased for $131,000 on January 1, Year 1 and originally estimated to have a useful life of 10 years with a residual value of $10,500. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,400. Calculate the third-year depreciation expense using the revised amounts and straight-line method. Round your answer to the nearest dollar Oa. $25,125 Ob$26,125 Oc, $27,125 Od-$26,625

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