Exercise 6-14 Revision of estimated useful life LO 6-5
On January 1, 2014, Muoy Machining Co. purchased a compressor and related installation equipment for $69,300. The equipment had a three-year estimated life with a $3,900 salvage value. Straight-line depreciation was used. At the beginning of 2016, Muoy revised the expected life of the asset to four years rather than three years. The salvage value was revised to $2,900.
Required
Compute the depreciation expense for each of the four years.
2014
2015
2016
2017