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A company has a building that it originally bought for $500,000. As of 12/31/2012, there...

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Accounting

A company has a building that it originally bought for $500,000. As of 12/31/2012, there is $100,000 of Accumulated Depreciation on the building (it was being straight-line depreciated over 20 years with $100,000 salvage value). On 1/1/2013, the company decides to change the remaining useful life to 5 years (starting now) with a $200,000 salvage value.

What will be the depreciation on the building in 2013?

$15,000

$60,000

$40,000

$20,000

$30,000

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