Multiple Choice
Bates Company purchased equipment on January 1, 2016, at a total invoice cost of $1,200,000. The equipment has an estimated salvage value of $30,000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used?
A) $240,000.
B) $480,000.
C) $234,000.
D) $468,000.
Correct Answer:
Verified
Correct Answer:
Verified
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