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Business, 02.12.2019 22:00

Correa international purchased equipment in january 2016 for $387,000. the equipment had a useful life of 10 years and they used straight-line depreciation. equipment values declined in 2019 due to the release of a new model, and correa recorded a loss on impairment of $62,000 on november 18, 2019. in february 2020, equipment values increased again because of problems with software in the new model. the market value for old models hit $250,000 in march 2020. if correa continues to use their old model in 2020, how would they handle the value of the equipment on december 31, 2020?

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