Wildway Company purchased a heating system on January 2,2008,for $425,000.The system had an estimated useful life of 15 years,with no residual value.On January 2,2020,the company completed a complete renovation of the system at a cost of $43,000 cash,and now expects the system to last 5 years beyond the original estimate.The company uses the straight-line method of depreciation.

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The Answer of Wildway Company purchased a heating system on January 2,2008,for $425,000.The system had an estimated useful life of 15 years,with no residual value.On January 2,2020,the company completed a complete renovation of the system at a cost of $43,000 cash,and now expects the system to last 5 years beyond the original estimate.The company uses the straight-line method of depreciation.

Wildway Company Purchased a Heating System on January 2,2008,for $425,000