Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year...
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Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life and a $2,400 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,000 salvage value. Required: 1. Compute the machines book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates.
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