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Problem: Oriole Company purchased a hot tub for $10,605 on January 1, 2016. Straight-line depreciation is used, based on a 6-year life and a $1,695 salvage value. In 2018, the estimates are revised. Oriolenow feels the hot tub will be used until December 31, 2020, when it can be sold for $795.
Required:
Compute the 2018 depreciation. Please describe your solutions.
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read headline think before you spend and then drawing on material covered in this subject accounting theory identify
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