Equipment with a cost of $160,000, an estimated residual value of $40,000, and an estimated life of 15 years was depreciated by the straight-line method for four years. Due to obsolescence, it was determined that the remaining useful life should be shortened by three years and the residual value changed to zero. The depreciation expense for the current and future years is
A) $11,636
B) $16,000
C) $11,000
D) $8,000

Question

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The Answer of Equipment with a cost of $160,000, an estimated residual value of $40,000, and an estimated life of 15 years was depreciated by the straight-line method for four years. Due to obsolescence, it was determined that the remaining useful life should be shortened by three years and the residual value changed to zero. The depreciation expense for the current and future years is
A) $11,636
B) $16,000
C) $11,000
D) $8,000

Equipment with a Cost of $160,000, an Estimated Residual Value