Multiple Choice
An asset being amortized with the straight-line method has a residual value of $20,000 and amortization expense of $25,000 in its second year. What was the original cost of the asset if its useful life was 10 years?
A) $270,000
B) $200,000
C) $185,000
D) $250,000
Correct Answer:
Verified
Correct Answer:
Verified
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