An entity purchased an asset on january 1, 2018 for 300,000. The asset is being...
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Accounting
An entity purchased an asset on january 1, 2018 for 300,000. The asset is being depreciated on a straight line basis over 10 years. The asset's residual value is 50,000. During 2021 the total useful life was re-estimated to be 8 years with a residual value of 80,000. What is the depreciation expense for the year 2021
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