Multiple Choice
Equipment with a cost of $160,000 has an estimated residual value of $10,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation expense for the first full year, during which the equipment was used 3,300 hours?
A) $40,000.
B) $37,500.
C) $41,250.
D) $42,500.
Correct Answer:
Verified
Correct Answer:
Verified
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