A company purchases a machine for $55,000 which has a useful life of 8 years and an estimated residual of $8,000. After three years of use, the remaining life is estimated to be three years with a residual value of $5,000. What is the depreciation expense in year four assuming straight-line depreciation? Round the answer. The answer suppose to be $10,792 but how do we get to $10,792?
Financial Accounting depreciation problem?
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