n asset was purchased for $131,000 on January 1, Year 1 and
originally estimated to have a useful life of 10 years with a
residual value of $14,000. At the beginning of the third year, it
was determined that the remaining useful life of the asset was only
4 years with a residual value of $2,400. Calculate the third-year
depreciation expense using the revised amounts and straight-line
method. Round your answer to the nearest dollar.
a.$25,300
b.$27,300
c.$26,300
d.$26,800
n asset was purchased for $131,000 on January 1, Year 1 and originally estimated to have a useful life of 10 years with
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