Yellow Ltd purchased an asset 6 years ago for $75 000.At that time it was deemed to have a residual value of $15 000 and estimated useful life of 6 years.After 4 years of use the asset was overhauled at a cost of $35 000.The overhaul extended the useful life of the asset by 4 more years but reduced its residual value to $7000.Assuming the straight-line method of depreciation is applied,calculate the depreciation expense in the year after the overhaul (rounded to the nearest dollar)?

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The Answer of Yellow Ltd purchased an asset 6 years ago for $75 000.At that time it was deemed to have a residual value of $15 000 and estimated useful life of 6 years.After 4 years of use the asset was overhauled at a cost of $35 000.The overhaul extended the useful life of the asset by 4 more years but reduced its residual value to $7000.Assuming the straight-line method of depreciation is applied,calculate the depreciation expense in the year after the overhaul (rounded to the nearest dollar)?

Yellow Ltd Purchased an Asset 6 Years Ago for $75