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When originally purchased, a vehicle had an estimated useful life of 10 years. The vehicle...

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Accounting

When originally purchased, a vehicle had an estimated useful life of 10 years. The vehicle cost $61,000 and its estimated residual value is $3,000. After 3 years of straight-line depreciation, the assets total estimated useful life was revised from 10 years to 7 years and there was no change in the estimated residual value. The Depreciation Expense in year 4 is:

Multiple Choice

$1,725

$8,011

$8,286

$10,150

Answer & Explanation Solved by verified expert
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