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Compute the new annual depreciation

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Question - Santayana Company purchased a machine on January 1, 2006 for $12,000 with an estimated salvage or scrap value of $3,000 and an estimated useful life of 8 years. On January 1, 2008 Santayana decides the machine will last 12 years from the date of purchase. The salvage value is still estimated at $3,000. Using the straight-line method, compute the new annual depreciation?

Reference no: EM132929809

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