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What the depreciation expense for the building

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Problem - Reed Company is in the process of preparing its financial statements for 2025. During 2025, Reed changed from the double-declining balance method for its building to the straight-line method. The building originally cost $700,000. It had an original useful life of 40 years and a salvage value of $60,000. Purchase date was 1/1/23. What the 2025 depreciation expense for the building?

Reference no: EM132944266

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