A Plant Asset Was Purchased on January 1 for $55,000

Multiple Choice

A plant asset was purchased on January 1 for $55,000 with an estimated salvage value of $5,000 at the end of its useful life.The current year's depreciation expense is $5,000 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $25,000.The remaining useful life of the plant asset is

A) 10 years.
B) 11 years.
C) 6 years.
D) 5 years.