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How much amortization would be recorded on december

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Problem 1: Prax Printers purchased equipment on January 1, 2016, for $450,000. The estimated residual value is $15,000 and the estimated useful life is 10 years. Prax Printers uses the straight-line method for amortization of its equipment. On January 1, 2019, Prax Printers revised the useful life to be 2 more year(s) rather than 7. How much amortization would be recorded on December 31, 2019?

Reference no: EM132794173

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