Charterhouse Services Purchased a Van on January 1,2012,for $56,000

question 116

Multiple Choice

Charterhouse Services purchased a van on January 1,2012,for $56,000.It has an estimated life of 5 years,and an estimated salvage value of $6,000.Dawson uses straight-line depreciation.At the end of 2014,Charterhouse revised the estimated life of the asset from 5 years to 8 years.How much was the depreciation expense in the year 2015?

• A) $5,000
• B) $4,000
• C) $6,000
• D) $5,600

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