Question

How do i calculate this problem. An asset was purchased for $150,000. It had an estimated salvage value of $30,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $24,000 but the estimated useful life is unchanged. Assuming straight-line depreciation, depreciation expense in 6 years would be?

Answer 1

See:
http://www.jiskha.com/display.cgi?id=1259861180

Answer 2

equipment costing 60,000 was purchased on 1/1/2014 and has a 5 year useful life