A company purchases a machine for $55,000, which has a useful life of 8 years and an estimated…

A company purchases a machine for $55,000, which has a useful life of 8 years and an estimated residual value of $8,000. After three years of use, the remaining life is estimated to be three years with a residual value of $5,000. What is depreciation expense in year four assuming straight-line depreciation? a. $6,250 b. $8,333 c. $10,792 d. $12,458

 

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