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Business, 16.10.2019 12:20 kcruz0609

An asset was purchased for $120,000 on january 1, year 1 and originally estimated to have a useful life of 10 years with a residual value of $10,000. 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 $2,000. calculate the third-year depreciation expense using the revised amounts and straight-line method.

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An asset was purchased for $120,000 on january 1, year 1 and originally estimated to have a useful l...
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