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Flounder Corp. purchased a piece of equipment for $40,000. It estimated a 8 -year life...

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Accounting

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Flounder Corp. purchased a piece of equipment for $40,000. It estimated a 8 -year life and $1,600 salvage value. At the end of year 4 (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $3,200. Compute the revised depreciation. Company uses straight-line depreciation method. (Round answer to 0 decimal places, es 125) Revised depreciation

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