Murgatroyd Co. purchased equipment on January 1, 2016, for $480,000, estimating a four-year useful life...
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Murgatroyd Co. purchased equipment on January 1, 2016, for $480,000, estimating a four-year useful life and no residual value. In 2016 and 2017, Murgatroyd depreciated the asset using the sum-of-years'-digits method. In 2018, Murgatroyd changed to straight-line depreciation for this equipment. What depreciation would Murgatroyd record for the year 2018 on this equipment? (Do not round your depreciation rate.)
$ 72,000.
$120,000.
None of these answer choices are correct.
$144,000.
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