Canada s Wonderland paid $60,000 for a concession stand. Depreciation was recorded by the…

Canada s Wonderland paid $60,000 for a concession stand. Depreciation was recorded by the straight-line method over 10 years with zero residual value. Suppose that after using the concession stand for four years, Canada s Wonderland determines that the asset will remain useful for only three more years. How will this affect depreciation on the concession stand for year 5 by the straight-line method?

 

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