Reference no: EM131588115

Question - GS Company takes a full year's depreciation expense in the year of an asset's acquisition, and no depreciation expense in the year of disposition. Data relating to one of GS's depreciable assets at December 31, year 5, are as follows:

Acquisition year                         Year 2

Cost                                         $110,000

Residual value                           $20,000

Accumulated depreciation           $72,000

Estimated useful life                   5 years

Using the same depreciation method as used in year 2, year 3, and year 4, how much depreciation expense should GS record in year 5 for this asset?