On January 1, Year 1, Marino Moving Company Paid $64,000

Multiple Choice

On January 1, Year 1, Marino Moving Company paid $64,000 cash to purchase a truck. The truck was expected to have a four-year useful life and a $4,000 salvage value. If Marino uses the straight-line method, the amount of depreciation expense recognized on the Year 2 income statement is

A) $16,000
B) $32,000
C) $15,000
D) $10,000