What is the depreciation expense

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Problem - Compton ltd. purchased equipment on 1 January 2013 at a cost of $60000. The equipment was originally estimated to have a salvage value of $5000 and an estimated life of 10 years. Depreciation has been recorded through 31 December 2016, using straight line method. On 1 January 2017, the estimated residual value was revised to $6000 and the useful life was revised to a total of 8 years. What is the depreciation expense for 2017?

Reference no: EM133022393

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