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1. Equipment costing $40,000 with a salvage value of $8,000 and an estimated life of 8 years has been depreciated using the straight-line method for 2 years. Assuming a revised estimated total life of 5 years and no change in the salvage value, the depreciation expense for year 3 would be (Points : 2)       
      
      
      

      
      
      


      
      
      


      
      
      


      
      
      


      
      
      


      
      
      


      
      
      


      
      
      


      
      
      

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