On January 1, 2020, Kuzma Corp. purchased machinery for $886,000 and depreciated it over ten...
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Accounting
On January 1, 2020, Kuzma Corp. purchased machinery for $886,000 and depreciated it over ten years with no residual value.
In 2026, based on new information, it was determined that the asset's useful life will end on December 31, 2036, at which point it will have a residual value of $6,000.
Depreciation expense in 2026 is
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