(Answered) On january 1 2013 food storage company purchased a freezer

Accounting

On January 1, 2013, Food Storage Company purchased a freezer and related installation equipment for $38,000. The equipment had a three year estimated life with a $5,000 salvage value. Straight line depreciation was used. At the beginning of 2015, Food Storage revised the expected life of the asset to four years rather than three years. The salvage value was revised to $2,000.

Required:

Compute the depreciation expense for each of the four years, 2013-2016.

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