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Calculate depreciation expense

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Question - Catepillars, inc a manufacturing company acquired equipment on January 1, 2014 for 530000. Estimated useful life of the equipment was seven years and the estimated residual value was 13000. On January 2017, after using the equipment for three years, the total estimated useful life has been revised to nine total years. Residual value remains unchanged. The company uses the straight line method of depreciation. Calculate depreciation expense for 2017.

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58889

57444

Reference no: EM132170042

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