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20 April, 14:59

When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $25,000 and its estimated residual value is $3,000. After 3 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 5 years and there was no change in the estimated residual value. The Depreciation Expense in year 4 is:

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  1. 20 April, 15:20
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    Answer: $11,600
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