On January 1, 2010, Pinnacle Purchased an Asset That Had

Multiple Choice

On January 1, 2010, Pinnacle purchased an asset that had an estimated residual value of $700 after an economic life of four years.Pinnacle used sum-of-the-years'-digits depreciation and recorded $1, 560 of depreciation expense in 2012.What was the cost of the asset?

A) $5, 900
B) $7, 100
C) $4, 500
D) $8, 500