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Compute the revised annual depreciation

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Question - On January 1, 2017, the Morgantown Company ledger shows Equipment $71,000 and Accumulated Depreciation-Equipment $9,100. The depreciation resulted from using the straight-line method with a useful life of 10 years and salvage value of $4,300. On this date, the company concludes that the equipment has a remaining useful life of only 5 years with the same salvage value.

Compute the revised annual depreciation.

Reference no: EM132089230

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