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Calculate depreciation expense that should be recorded

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Question - Marcus Photography purchased photographic equipment for $75,000. The equipment was to be used for ten years and had a $5,000 estimated residual value. After the company took three years of straight-line depreciation, it decided that the equipment would instead have a $2,000 residual value and a total useful life of eleven years. Calculate depreciation expense that should be recorded in year 4. Show your work.

Reference no: EM131705132

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