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Compute the depreciation expense

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Reference no: EM133000436

Problem - On 1/1/2015 you purchased equipment with a cost of $180 000, an estimated residual value of $40 000 and an estimated life of 15 years. The equipment was depreciated by the straight-line method for 3 years. On 1/1/2018 due to obsolescence, it was determined that the useful life should be shortened by 4 years and the residual value changed to zero. Compute the depreciation expense for 31/12/2018?

Reference no: EM133000436

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