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Calculate the revised annual amortization

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Question - Frye Company bought machinery on January 1, 1999 at a cost of $200,000. The machinery had an estimated life of 10 years and salvage value of $20,000. In December 2001, Frye Company estimates that the machinery will have a life of only 3 more years and an $8,000 salvage value. Frye Company uses straight-line amortization. Calculate the revised annual amortization.

Reference no: EM132923864

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