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:

Linear Perspective

A monocular cue for depth perception, where parallel lines appear to converge in the distance, helping the brain perceive spatial relationships.

Brightness

The attribute of visual perception in accordance with which an area appears to emit more or less light.

Perceptual Constancy

The brain's ability to recognize that an object's characteristics (such as size, color, and shape) remain the same despite changes in the environment or perspective.

Phi Phenomenon

An optical illusion of perceiving continuous motion between separate objects viewed rapidly in succession.