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OpenStudy (anonymous):

Any accountants here? I need help I know the answer to the question but I dont know how they got the answer. In order for me to understand the problem I need someone to walk through it with me so I know what I missed. Please help

OpenStudy (anonymous):

what's the question?

OpenStudy (anonymous):

Able Towing Company purchased a tow truck for $60,000 on January 1, 2010. It was originally depreciated on a straight-line basis over 10 years with an assumed salvage value of $12,000. On December 31, 2012, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 years (including 2012) and the salvage value to $2,000. What was the depreciation expense for 2012?

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