Revised annual depreciation, accounting homework help

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Revised annual depreciation, accounting homework help

On January 1, 2010, the Thompson Beer Corporation purchased equipment at a cost of $140,000.

It was expected to have a useful life of eight years and no salvage value. The straight-line depreciation method was used. In January 2012, the estimate of salvage value was revised for
$0
to
$7,800
.

How much depreciation should Thompson Beer Corporation record for 2012?

??

Divided by

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=

Revised annual depreciation