Multiple Choice
An asset being amortized with the straight-line method has a residual value of $10,000 and accumulated amortization expense of $30,000 in its second year.What was the original cost of the asset if its useful life was 5 years?
A) $160,000
B) $140,000
C) $ 85,000
D) $75,000
Correct Answer:
Verified
Correct Answer:
Verified
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