When originally purchased, a vehicle had an estimated useful life of 8 - 10263

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yousafbhutta

yousafbhutta

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  • From: Business,
  • Posted on: Wed 23 May, 2012
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Request Description

 

When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $43,000 and its estimated residual value is $3,000. After 3 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 4 years and there was no change in the estimated residual value. The depreciation expense in year 4 is (Round your final answer to the nearest whole number.)

 

 

 

$9,725

$10,000

$6,525

$25,000

 

 

 

Solution Description

 

When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $43,000 and its estimated residual value is $3,000. After 3 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 4 years and there was no change in the estimated residual value. The depreciation expense in year 4 is (Round your final answer to the nearest whole number.)

 

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