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Compute the amount recorded for depreciation expense

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Reference no: EM132532733

Question - Machinery was purchased at the beginning of 2017 for $450,000. At the time of its purchase, the machinery was estimated to have a useful life of six years and a salvage value of $120,000. The machinery was depreciated using the straight-line method through 2019. At the beginning of 2020, the estimated useful life was revised to a total of eight years and the expected salvage value was changed to $83,000.

Required - Compute the amount recorded for 2020 depreciation expense?

a. $25,250

b. $57,000

c. $45,875

d. $40,400

Reference no: EM132532733

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