ACC – A company used straight-line depreciation for an item of equipment

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Description

A company used straight-line depreciation for an item of equipment that cost $14,250, had a salvage value of $3,000, and had a five-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,500 and its total useful life was increased from 5 years to 6 years. Determine the amount of depreciation to be charged against the machine during each of the remaining years of its useful life:
$2,000.
$1,250.
$2,550.
$2,125.
$1,867.

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