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Assume an asset with an original cost of $40,000 and a $6,000 salvage value is...

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Accounting

Assume an asset with an original cost of $40,000 and a $6,000 salvage value is depreciated using straight-line depreciation over five years. After year two the salvage value was modified to $2,000 salvage value with five years of depreciation remaining. What is the new yearly depreciation?

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