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Safari File Edit View History Bookmarks Window Help newconnect.mheducation.com e netflix Wikipedia youtube rdirecta Facebook footbie Yelp directvnow zeekgps pearson Air Jordan, Nike, adidas, Supre. Air Jordan 1 Hi Retro "Think 1. Connect utep Ch. 11 Assessment Help Save & Exit Submit Saved Nanki Corporation purchased equipment on January 1, 2016, for $635,000. In 2016 and 2017, Nanki depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $7,000 residual value. In 2018, due to changes in technology, Nanki revised the useful life to a total of 5 years with no residual value. What depreciation would Nanki record for the year 2018 on this equipment? (Round your answer to the 9 02:41:40 nearest dollar amount.) eBook Multiple Choice $106,070 $104,667 None of these answer choices are correct $159,333 Mc raw K Prev 30

Explanation / Answer

Depreciation charged for 2016&2017

= (635,000-7,000)/8 years x 2

=$157,000

Book value on the beginning of 2018 = $635,000 - $157,000 = $478,000

Depreciation for 2018 = (478,000)x 1/3 [ based on remaining useful life]

=$159,333 (rounded off)

Option d

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