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Compute the revised annual depreciation

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Question 1: On January 1, 2022, the Pharoah Company ledger shows Equipment $42,600 and Accumulated Depreciation $16,040. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $2,500. On this date, the company concludes that the equipment has a remaining useful life of only 4 years with the same salvage value. Compute the revised annual depreciation

Reference no: EM132502351

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