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How calculate the amount of depreciation

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Problem - A company purchased an asset on January 1, 2014, for $10,000. The asset was expected to have a ten-year life and a $1,000 salvage value. The company uses the straight-line method of depreciation. On January 1, 2016, the company determines that the asset will last only five more years. Show me how Calculate the amount of depreciation for 2016.

Reference no: EM132865482

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