Multiple Choice
A company purchased a delivery van for $28,000 with a salvage value of $3,000 on September 1, Year 1. It has an estimated useful life of 5 years. Using the straight-line method, how much depreciation expense should the company recognize on December 31, Year 1?
A) $1,667.
B) $1,400.
C) $2,067.
D) $1,250.
E) $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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