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Question
Nicholson Company purchased equipment on January 1, 2010, for €20,000 with an estimated residual value of €5,000 and estimated useful life of 8 years. On January 1, 2012, Nicholson decided the equipment will last 12 years from the date of purchase. The residual value is still estimated at €5,000. Using the straight-line method the new annual depreciation will be:
a. €1,125.
b. €1,250.
c. €1,500.
d. €1,667.
Answer
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