On January 1, 20x2, Astro Ltd. purchased a piece of equipment costing $84816. At the...
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Accounting
On January 1, 20x2, Astro Ltd. purchased a piece of equipment costing $84816. At the time, the equipments useful life was expected to be 8 years with an estimated residual value of $15821. In 20x6, these estimates were revised: the total estimated useful life of the equipment is expected to be 12 years and the residual value is expected to be $11736.
What will the depreciation expense be for 20x6? Assume the company uses straight-line depreciation.
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