(Answered) Question - on january 1 2014 the ferman company ledger

Accounting

Question - On January 1, 2014, the Ferman Company ledger shows Equipment $36,800 and Accumulated Depreciation $13,264. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $3,640. On this date, the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value.

Compute the revised annual depreciation.

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