On July 1, 2019, Sunland Company purchased new equipment for $80,000. Its estimated useful life was 5 years with a $10,0

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answerhappygod
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On July 1, 2019, Sunland Company purchased new equipment for $80,000. Its estimated useful life was 5 years with a $10,0

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On July 1, 2019, Sunland Company purchased new equipment for $80,000. Its estimated useful life was 5 years with a $10,000 salvage value. On December 31, 2022, (before calculating annual depreciation) the company estimated that the equipment’s remaining useful life was 10 years, with a revised salvage value of $5,000.
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