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Equipment with a cost of $83,015.00, an estimated residual value of $4,166.00, and an estimated life of 12 years was depreciated by the straight-line method for 6 years. Due to obsolescence, it was determined that the useful life should be shortened by 4 years and the residual value changed to zero. The depreciation expense for the current and future years is

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165523

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