g When originally purchased, a vehicle costing $60,000 had an estimated useful life of 8 years and an estimated salvage value of $4,000. After 4 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 6 years and the estimated salvage value was reduced to $2,000. How much should be recorded as depreciation expense in year 5

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?