An asset was purchased for $264000. It had an estimated salvage value of $46000 and...
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Accounting
An asset was purchased for $264000. It had an estimated salvage value of $46000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $36000 but the estimated useful life is unchanged. Assuming straight-line depreciation, depreciation expense in year 6 would be $31000. $23800. $22800. $15500
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