Able Towing Company purchased a tow truck for $60,000 on January 1, 2015

Subject:AccountingPrice:3.87 Bought7

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Able Towing Company purchased a tow truck for $60,000 on January 1, 2015. It was originally depreciated on a straight-line basis over 10 years with an estimated salvage value of $12,000. On December 31, 2017, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 more years as of January 1, 2017, and the salvage value was adjusted to $2,000. How much is depreciation expense for 2017?

$4,800

$15,000

$6,000

$12,100