Multiple Choice
Jack's Copy Shop bought equipment for $150,000 on January 1, 2013. Jack estimated the useful life to be 3 years with no salvage value, and the straight-line method of depreciation will be used. On January 1, 2014, Jack decides that the business will use the equipment for a total of 5 years. What is the revised depreciation expense for 2014?
A) $50,000.
B) $20,000.
C) $25,000.
D) $37,500.
Correct Answer:
Verified
Correct Answer:
Verified
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