Multiple Choice
On January 1, 2017, Panda Company purchased a delivery truck for $105,000. They estimated the useful life of the truck to be 6 years, and the salvage value to be $19,500. On July 1, 2022, they sold the truck for a loss of $2,700.
Assuming the company uses straight line depreciation, calculate the selling price of the truck.
A) $22,125
B) $24,825
C) $23,925
D) $33,750
Correct Answer:
Verified
Correct Answer:
Verified
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