The following information is available on a depreciable

Reference no: EM131021683

1. The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date June 1, Year 1 Purchase price $90,500 Salvage value $10,500 Useful life 10 years Depreciation method straight-line The asset's book value is $74,500 on June 1, Year 3. On that date, management determines that the asset's salvage value should be $5,500 rather than the original estimate of $10,500. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:

Reference no: EM131021683

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