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What should yza record for depreciation expense on piece

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Reference no: EM132508840

At December 31, 2020, YZA Corporation has a piece of equipment with the following information:

Cost: $100,000
Accumulated depreciation: $55,000
Undiscounted net expected future cash flows: 42,000
Estimate FMV: 39,000

Point 1: YZA plans to continue using the asset in its business for the foreseeable future. Additionally, as of January 1, 2021, the asset has an estimated remaining useful life of 4 years and an estimated salvage value of $14,000.

Question 1: What should YZA record for depreciation expense on the piece of equipment on the 2021 income statement?

6,250

7,000

7,750

21,500

9,750

Reference no: EM132508840

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