If Equipment with a 5-Year Life Was Purchased on July

Multiple Choice

If equipment with a 5-year life was purchased on July 1, 2015 for $60,000, by December 31, 2016,

A) the accumulated depreciation would be $12,000 and the carrying amount would be $48,000.
B) the accumulated depreciation would be $40,000 and the carrying amount would be $20,000.
C) the accumulated depreciation would be $30,000 and the carrying amount would be $30,000
D) the accumulated depreciation would be $18,000 and the carrying amount would be $42,000