What is the depreciation expense in year five

Reference no: EM131933264

Problem

When originally purchased, a vehicle had an estimated useful life of eight years. The vehicle cost $24,240 and its estimated salvage value is $2,000. After four years of straight-line depreciation, the asset's total estimated useful life was revised from eight years to six years and there was no change in the estimated salvage value. What is the depreciation expense in year 5?

Reference no: EM131933264

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