the following information is available on a depreciable asset: purchase date january 1, year 1 purchase price $92,000 salvage value $10,000 useful life 10 years depreciation method straight-line the asset's book value is $75,600 on january 1, year 3. on that date, management determines that the asset's salvage value should be $5,000 rather than the original estimate of $10,000. based on this information, the amount of depreciation expense the company should recognize during year 3 would be: multiple choice $7,560.00 $8,200.00 $8,825.00 $7,060.00 $9,450.00
