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Holt Company purchased a computer for $8,000 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,000 salvage value. In 2021, the estimates are revised. Holt now feels the computer will be used until December 31, 2022, when it can be sold for $500. Compute the 2021 depreciation.

 

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Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
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ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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