On january 1, jamaica company purchased equipment for $18,000. the estimated salvage value is $4,000 and the estimated useful life is 5 years. on december 31 of the fourth year, and before adjusting entries have been made, the company decided to extend the estimated useful life of the equipment by two years giving it a total life of 7 years. the company did not change the salvage value and continues to use the straight-line method. what is the depreciation expense for the fourth year?
a) $4,000
b) $2,000
c) $2,800
d) $1,400
e) $1,500

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u.s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.