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Compute depreciation expense for year

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Question - On January 2, Year 1, Washington Company purchased equipment costing $64,800. The equipment has an estimated salvage value of $9,720 and an estimated useful life of 20 years. Washington Company uses straight-line depreciation. On January 5 of Year 10, new Information suggests that the equipment will have a total useful life of 12 years and a revised salvage value of $6,840.

Required -

1. Compute depreciation expense for Year 10.

2. Compute the book value of the equipment at the end of Year 10.

Reference no: EM133067454

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