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In: Accounting

If an MRI machine has an appraisal cost of $6,250, a historical cost of $2,785, and...

If an MRI machine has an appraisal cost of $6,250, a historical cost of $2,785, and a depreciation expense of $96, what is its restated depreciation expense (1 point)?

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Expert Solution

Historical cost of MRI machine $2,785
Depreciation expense $96
Life of the machine in years             29 (2785/96)
Appraisal cost $6,250
Restated depreciation $215 (6250/29)

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