(Please show work) Madison Corporation acquired a machine for $32,000 and has recorded depreciation for...
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Accounting
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Madison Corporation acquired a machine for $32,000 and has recorded depreciation for two years using thestraight-line method over a five-year life and $9,000 residual value. At the start of the third year of use, Madison revised the estimated useful life to a total of 10 years. Estimated residual value declined to $0.How much depreciation should Madison record in each of the asset's last eight years (that is, year 3 through year 10), following the revision?
$2,850
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