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What new amount of depreciation expense will bb inc record

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Question - BB Inc. purchased manufacturing machinery for $12,500 on January 1, 2020. BB Inc. estimated the machinery to have a useful life of 10 years and a salvage value of $2,000. BB Inc. uses the straight-line method to depreciate the machinery. On January 1, 2023, BB Inc. determines that the machinery is expected to have a useful life of 8 years rather than 10 years, and the salvage value is revised from $2,000 to $1,000. What new amount of depreciation expense will BB Inc. record for 2023?

Reference no: EM133169894

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