Multiple Choice
On January 1, 2016, Flo, Inc. purchased an asset for $48,000. It was estimated that the asset life was seven years, after which it would have a residual value of $4,100. Assuming the use of the sum-of-the-years'-digits method, depreciation expense for 2016 would be
A) $12,804
B) $10,975
C) $12,000
D) $5,487.50
Correct Answer:
Verified
Correct Answer:
Verified
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