When Originally Purchased,a Vehicle Had an Estimated Useful Life of Eight

question 30

Multiple Choice

When originally purchased,a vehicle had an estimated useful life of eight years.The vehicle cost $23,000 and its estimated salvage value is $1,500.After four years of straight-line depreciation,the asset's total estimated useful life was revised from eight years to six years and there was no change in the estimated salvage value.The depreciation expense in year 5 equals:

• A)$5,375.00
• B)$2,687.50
• C)$5,543.75
• D)$10,750.00
• E)$2,856.25

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Definitions:

Bandura

Refers to Albert Bandura, a psychologist known for his work on social learning theory, demonstrating how people learn through observation and imitation.

Ecological Theory

A framework suggesting that the development of an individual is influenced by the complex interactions between them and their environment.

Ecosystems

Natural communities of living organisms (biotic) interacting with their physical (abiotic) environments as a system.

Ecological Process

Natural processes and interactions among organisms and their environment, influencing the distribution and abundance of living things.