Multiple Choice
On October 1, 2022, Manning Company places a new asset into service.The cost of the asset is $120,000 with an estimated 5-year life and $30,000 salvage value at the end of its useful life.What is the depreciation expense for 2022 if Manning Company uses the straight-line method of depreciation?
A) $4,500
B) $24,000
C) $6,000
D) $12,000
Correct Answer:
Verified
Correct Answer:
Verified
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