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What is the amount of depreciation expense related

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Question - Lavender Company purchased a machine on January 1, 2016, for $80,000. The machine has an estimated useful life of 5 years with a salvage value of $10,000. It is being depreciated using the straight-line method. On January 1, 2018, Lavender reevaluated the machine's useful life and now believes it will continue for another 5 years (for a total of 7 years) and have no salvage value at the end of its useful life. What is the amount of depreciation expense related to this machine for the year ended December 31, 2018?

Reference no: EM133135346

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