Rons quik shop bought machinery for 50000 on january 1 2012, Ask an Expert

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Ron's Quik Shop bought machinery for $50,000 on January 1, 2012. Ron estimated the useful life to be 5 years with no salvage value, and the straight-line method of depreciation will be used. On January 1, 2013, Ron decides that the business will use the machinery for a total of 6 years. What is the revised depreciation expense for 2013?

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Accounting Basics, Accounting

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