On January 1, 2010, Richard Co.bought a machine for $10, 000.Residual value was estimated to be $400 and a five-year life was used for straight-line depreciation.On January 1, 2012, it was estimated that the total life from acquisition date should have been six years and residual value should have been estimated at $600.
Required:
Compute depreciation expense for 2012.

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The Answer of On January 1, 2010, Richard Co.bought a machine for $10, 000.Residual value was estimated to be $400 and a five-year life was used for straight-line depreciation.On January 1, 2012, it was estimated that the total life from acquisition date should have been six years and residual value should have been estimated at $600.
Required:
Compute depreciation expense for 2012.