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On January 1, 2022, the Sheridan Company ledger shows Equipment $ 48,400 and Accumulated Depreciation...

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Accounting

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On January 1, 2022, the Sheridan Company ledger shows Equipment $ 48,400 and Accumulated Depreciation $ 17,960. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $3,500. On this date, the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value. Compute the revised annual depreciation $ The revised annual depreciation

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