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Question(s) / Instruction(s):

A company used straight-line depreciation for an item of equipment that cost $12,000, had a salvage value of $2,000 and had a five-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,200 and its total useful life was increased from 5 years to 6 years. Determine the amount of depreciation to be charged against the machine during each of the remaining years of its useful life:

a.            $2,160

b.            $1,600

c.             $1,000

d.            $1,800

e.            $1,467

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