8. Long Lived Assets
Change in Estimate: Depreciation
Multiple Choice
Multiple ChoiceRoller Coaster Tycoons purchased a concession stand for $360,000. Initially, the concession stand was depreciated straight-line over a ten year useful life with no residual value. After six years in use, RCT assessed that the concession stand would be useful for only two more years. What is depreciation expense in year 7?
A
$18,000
B
$36,000
C
$54,000
D
$72,000
E
$90,000
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