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Pronghorn Corp purchased a piece of equipment for $65,200. It estimated a 7-year life and $3,000 salvage value. At the end of year 3 (before the depreciation adjustment), it estimated the new total life to be 9 years and the new salvage value to be $4,500.

Compute the revised depreciation. Company uses straight-line depreciation method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92808461

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