Depreciation and sale of equipment (questions 8 and 9):
Downton Smith Ltd. purchased a piece of machinery on Jan 1st 2013 for €400,000. The company estimated a useful life of 10 years and a residual value of zero for this asset. On December 31st 2015, the company decided to sell the machinery for €350,000.
What is the accumulated depreciation of this piece of machinery on December 31, 2015 right before selling it?