26) An asset was purchased for $250,000. It had an estimated salvage value of $50,000 and an estimated useful life of 10 years. After 5 years of use, it is now estimated that the asset will last another 10 years or 15 years in total. What should be the depreciation in Year 6?

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A: Solution: An intangible asset may be recorded, "if acquired from an external party at a cost."

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