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QUESTION
Assume an asset with an original cost of $40,000, and a $6,000 salvage value, depreciated using straight-line depreciation over 5 years remaining.
Assume an asset with an original cost of $40,000, and a $6,000 salvage value, depreciated using straight-line depreciation over 5 years remaining. After 2 years, the salvage value was modified to a $2,000 salvage value with 5 years of depreciation remaining. What is the new yearly depreciation?
