(Answered) Exercise 6-14 revision of estimated useful life lo 6-5on

Accounting

Exercise 6-14 Revision of estimated useful life LO 6-5

On January 1, 2014, Muoy Machining Co. purchased a compressor and related installation equipment for $69,300. The equipment had a three-year estimated life with a $3,900 salvage value. Straight-line depreciation was used. At the beginning of 2016, Muoy revised the expected life of the asset to four years rather than three years. The salvage value was revised to $2,900.

Required

Compute the depreciation expense for each of the four years.

2014
2015
2016
2017

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