Declining real estate values

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Effective January 1, 2010, the company changed the salvage value used in calculating depreciation for its office building. The building cost $600,000 on December 29, 1999, and has been depreciated on a straight-line basis assuming a useful life of 40 years and a salvage value of $100,000. Declining real estate values in the area indicate that the salvage value will be no more than $25,000.

Reference no: EM13155997

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