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Find the depreciation expense on the equipment

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Question - Mary Company purchased equipment on January 1, 2021, for $400,000. At the date of acquisition, the equipment had an estimated useful life of eight years with a $40,000 salvage value, and it was depreciated using the straight- line method. On January 1, 2026, based on updated information, Mary decided that the equipment had a total estimated life of ten years and no salvage value. Find the depreciation expense on the equipment in 2026?

A. $40,000

B. $45,000

C. $25,000

D. $35,000

Reference no: EM132768525

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