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What should be the depreciation expense on the equipment

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Problem 1: On January 1, Year 3, Fox Co. purchased equipment for $650,000 with 12-year useful life and $35,000 salvage value. The equipment was depreciated using the double-declining-balance (DDB) method, and the carrying amount of the machine was $415,700 on December 31, Year 5. Fox changed to the straight-line (SL) method on January 1, Year 6, and Fox can justify the change. What should be the depreciation expense on this equipment for the year ended December 31, Year 6.

Reference no: EM132754715

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