Multiple Choice
A building was purchased on August 1 for $490,000. It has a salvage value of $38,000 and a useful life of 30 years. To the nearest dollar, how much will the depreciation expense for the building be for the first year ended December 31, using the straight-line method? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)
A) $15,067
B) $16,333
C) $6,278
D) $6,805
Correct Answer:
Verified
Correct Answer:
Verified
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