Business, 20.06.2020 00:57 sokalotus3448

An asset was purchased for $131,000.00 on January 1, Year 1 and originally estimated to have a useful life of 11 years with a residual value of $8,500.00. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,200.00. Calculate the third-year depreciation expense using the revised amounts and straight line method.

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An asset was purchased for $131,000.00 on January 1, Year 1 and originally estimated to have a usefu...