* Your answer is incorrect. Metlock, Inc. purchased a piece of equipment for $70,600. It estimated a 8-year life and a $2,600 salvage value. At the end of year four (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $8,700. Compute the revised depreciation assuming Metlock uses the straight-line method. Revised annual depreciation $ 4650

* Your answer is incorrect. Metlock, Inc. purchased a piece of equipment for $70,600. It estimated a 8-year life and a $2,600 salvage value. At the end of year four (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $8,700. Compute the revised depreciation assuming Metlock uses the straight-line method. Revised annual depreciation $ 4650

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 3EB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...

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