Need help ASAP Concord Towing Company purchased a tow truck for $187000...
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Accounting
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Concord Towing Company purchased a tow truck for $187000 on January 1, 2020. It was originally depreciated on a straight-line basis over 10 years with an assumed salvage value of $39000. On December 31, 2022, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 years (including 2022) and the salvage value to $5000. What was the depreciation expense for 2022? $46750 $19500 $15600 $38100
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