Apex Fitness Club uses straight-line depreciation for a machine costing $24,000, with an estimated four...
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Apex Fitness Club uses straight-line depreciation for a machine costing $24,000, with an estimated four year life and a $2,100 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,650 salvage value. (1) Compute the machine's book value at the end of its second year. (Do not round your intermediate calculations.) Book Value at the End of Year 2: Cost Accumulated depreciation Book value at point of revision (2) Compute the amount of depreciation for each of the final three years given the revised estimates. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) Revised Annual Depreciation (Years Book value at point of revision Revised salvage value 3-5) Years of life remaining Revised annual depreciation years (3-5)
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