Multiple Choice
On October 1, 2018, Ming Wo Ltd. places a new asset into service. The cost of the asset is $16,000 with an estimated 5-year life and $4,000 residual value. If Ming Wo uses straight-line depreciation, the depreciation expense for the year ended January 31, 2019 is
A) $ 600.
B) $ 800.
C) $1,067.
D) $2,400.
Correct Answer:
Verified
Correct Answer:
Verified
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