Multiple Choice
A machine was purchased for $180,000 and it was estimated to have an $12,000 salvage value at the end of its useful life. Monthly depreciation expense of $1,400 was recorded using the straight-line method. The annual depreciation rate is
A) 12%.
B) 2%.
C) 8%.
D) 10%.
Correct Answer:
Verified
Correct Answer:
Verified
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