Farmers company purchased equipment on January 1 year one for $96,000 The equipment is estimated to have a five-year life and a salvage value of 13,000 the company use straight line depreciation method at the beginning of year for farmer revise the expected life to eight years the annual amount of depreciation expense for each of the remaining years would be

$6,240

Explanation:

annual amount of depreciation expense for each of the remaining years would be $6,240.

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since the options are not listed, when you are working on your budget you should also add water, tv, internet, miscellaneous and your 'fun' money for in your budget. when budgeting, you need to allow for fun money, and mis/accidental money so that you stick to the budget and not go crazy because you feel strapped to the budget.