Morton Company purchased a machine for $45,000. The machine had an expected useful life of...
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Morton Company purchased a machine for $45,000. The machine had an expected useful life of 7 years and a $3,000 salvage value. After 3 years of using straight-line depreciation, Morton Company revised the expected life from 7 years to 11 years with no change in expected salvage value. What is the depreciation expense for year 4 for this machine?
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