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Marjorie Corporation acquired a building on January 1, 2018, for $660,000. The building had an...

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Accounting

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Marjorie Corporation acquired a building on January 1, 2018, for $660,000. The building had an estimated useful life of 15 years and an estimated residual value of $60,000. On January 1, 2021, Marjorie Corporation determined that the building could only be used for a total of 12 years and there would be no a residual value. Compute depreciation expense for the year ending December 31, 2021, if Marjorie Corporation uses straight-line depreciation. (round to the nearest dollar) O $60,000 O $45,000 $55,556 O $41,667 O None of the above

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