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Business, 24.11.2021 17:00 thasen31

An asset was purchased for $137,000 on January 1, Year 1 and originally estimated to have a useful life of 9 years with a residual value of $8,000. 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 $3,000. Calculate the third-year depreciation expense using the revised amounts and straight-line method.

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