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What is the depreciation expense for each

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Problem - Revision of depreciation - A building with a cost of $900,000 has an estimated residual value of $250,000, has an estimated useful life of 40 years, and is depreciated by the straight-line method.

Required -

(a) What is the amount of the annual depreciation?

(b) What is the book value at the end of the twenty-fourth year of use?

(c) If at the start of the twenty-fifth year it is estimated that the remaining life is nine years and that the residual value is $240,000, what is the depreciation expense for each of the remaining nine years?

Reference no: EM132877873

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