What is the depreciation expense in 2024

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Reference no: EM133251552

Case: A company purchased an equipment for $180,000 on January 1, 2018. This equipment has an expected life of 15 years, and its salvage value is $0. In January 2022 the maintenance team noticed that the equipment will only be able to last another eight years.

Question 1. Using a straight-line approach, what is the depreciation expense in 2020?

Question 2. Using a straight-line approach, what is the depreciation expense in 2024?

Reference no: EM133251552

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