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What depreciation would the company record for the year

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Reference no: EM132829877

Problem 1: A Corporation purchased equipment on January 1, 2019, for $650,000. In 2019 and 2020, the company depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $10,000 residual value. In 2021, due to changes in technology, the company revised the useful life to a total of six years with no residual value. What depreciation would the company record for the year 2021 on this equipment?

A) $108,333.
B) $106,667.
C) $122,500.
D) None of these answer choices are correct.

Reference no: EM132829877

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