Multiple Choice
On November 1, 2013, Love Company places a new asset into service. The cost of the asset is $45,000 with an estimated 5-year life and $5,000 salvage value at the end of its useful life. What is the depreciation expense for 2014 if Love Company uses the straight-line method of depreciation?
A) $2,000.
B) $8,000.
C) $1,333.
D) $4,500.
Correct Answer:
Verified
Correct Answer:
Verified
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