Compute the revised annual depreciation

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On January 1, 2014, the Ferman Company ledger shows Equipment $37,900 and Accumulated Depreciation $14,124. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $2,590. On this date, the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value.

Compute the revised annual depreciation.

Reference no: EM131204294

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