Please help me look for the answer to this question!!!
On July 1, 2019, Sheridan Company purchased new equipment for $80,000. Its estimated useful life was 8 years with a $12,000
salvage value. On December 31, 2022, (before calculating annual depreciation) the company estimated that the equipment's
remaining useful life was 10 years, with a revised salvage value of $5,000
(what is in the red box is incorrect)