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Company the new straight line depreciation

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Question - On January 1, 2002, DDD Company purchased a car for $40,000. The salvage value is $1,000, and the asset is expected to have a useful life of 20 years. On January 1, 2018, DDD Company changes the estimated life of the asset to 25 years and decreases salvage value to $300.

a. Compute the straight line depreciation from 2002-2017.

b. Company the "new" straight line depreciation from 2018-2026.

Reference no: EM131929153

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