Multiple Choice
Equipment was purchased for $20,000. It is estimated that the equipment will have a $3,000 residual value at the end of its 5-year useful life. Using the straight-line method, annual depreciation expense will be
A) $3,400.
B) $4,000.
C) $4,600.
D) $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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