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How much depreciation expense will be recognized

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Question - Riley Trojan Company uses the straight-line depreciation method. They have an asset that cost $80,000 in Year 1 with a residual value of $8,000 with a useful life of 8 years. After depreciating the asset for 5 years, at the beginning of Year 6, they determined that the total estimated useful life is 14 years. The estimated residual value remained at $8,000. How much depreciation expense will be recognized in Year 6?

Reference no: EM133085252

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