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What is depreciation expense for fanestil corporation

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Problem 1: Fanestil Corporation purchased a depreciable asset for €420,000 on January 1, 2016. The estimated residual value is €42,000, and the estimated total useful life is 9 years. The straight-line method is used for depreciation. In 2019, Fanestill changed its estimates to a total useful life of 5 years with a residual value of €70,000. What is 2019 depreciation expense?

Option 1: €70,000
Option 2: €42,000
Option 3: €126,000
Option 4: €112,000

Reference no: EM132764148

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