Multiple Choice
On October 1 2017 Holt Company places a new asset into service. The cost of the asset is $120000 with an estimated 5-year life and $30000 salvage value at the end of its useful life. What is the depreciation expense for 2017 if Holt Company uses the straight-line method of depreciation?
A) $4500
B) $24000
C) $6000
D) $12000
Correct Answer:
Verified
Correct Answer:
Verified
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