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Calculate the revised annual depreciation

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Question - On January 2, 2021, Sunland Enterprises reports balances in the Equipment account of $30,600 and Accumulated Depreciation-Equipment account of $9,070. The equipment had an original residual value of $2,030 and a 10-year useful life. Sunland uses straight-line depreciation for equipment. On this date, the company decides that the equipment has a remaining useful life of only 4 years with the same residual value. Calculate the revised annual depreciation.

Reference no: EM132863330

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