The asset's book value is $103,700 on july 1, year 3. on that date, management determines that the asset's salvage value should be $6,700 rather than the original estimate of $11,700. based on this information, the amount of depreciation expense the company should recognize during the last six months of year 3 would be:

Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?