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Compute the depreciation expense for each of the four years

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Revision of estimated useful life

On January 1, 2010, Miller Machining Co. purchased a compressor and related installation equipment for $56,000. The equipment had a three-year estimated life with a $5,000 salvage value. Straight-line depreciation was used. At the beginning of 2012, Miller revised the expected life of the asset to four years rather than three years. The salvage value was revised to $4,000.

Required

Compute the depreciation expense for each of the four years.

Reference no: EM13536286

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