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On January 1, 2008 an asset was acquired for $30,000. Its useful life was expected to be 10 years and the salvage value is expected to be $0. After four years of use, the company realized the asset would be useful for only three more years. (In other words, the total useful life of the asset will be seven years instead of the original 10 years.) The company uses the straight-line method of depreciation. The Depreciation Expense in each of the years 2012, 2013, and 2014 will be $___

Respuesta :

Each of the years 2012, 2013, and 2014 will incur a $6,000 depreciation expense.

figured out as follows:

Amount to Be Depreciated = Cost of $30,000 less Estimated Salvage Value of $0.

For the years 2012, 2013, 2014, and 2015, $30,000 divided by ten years equals $3,000 every year.

The Book Value is $18,000 after 4 years ($30,000 minus $12,000).

Depreciation of the $18,000 book value will be required over the remaining 3 years= $6,000 annually.

learn more about Depreciation Expense here https://brainly.com/question/25785586

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