What depreciation expense will be recorded

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Panther Products bought a machine at a total cost of $105 million at the beginning of 2000. The machine was being depreciated over a 10-year life with a $5 million residual value. The balance in Accumulated Depreciation for this asset was $30 million at the end of 2002. On 1/1/2003 Panther determined the total useful life should only be a total of 6 years with no residual value. What depreciation expense will be recorded in 2003?

Reference no: EM131221892

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What depreciation expense will be recorded : Panther Products bought a machine at a total cost of $105 million at the beginning of 2000. The machine was being depreciated over a 10-year life with a $5 million residual value. The balance in Accumulated Depreciation for this asset was $30 million..

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