Williams Company purchased a machine costing $30,500 and is depreciating it over a 10-year estimated...
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Williams Company purchased a machine costing $30,500 and is depreciating it over a 10-year estimated useful life with a residual value of $3,500. At the beginning of the eighth year, a major overhaul on it was completed at a cost of $8,500, and the total estimated useful life was changed to 12 years with the residual value unchanged. How much is the year 8 depreciation expense assuming use of the straight-line depreciation method? $2,700. $4,400. $3,320. $8,500.
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