Multiple Choice
On January 1,2010,Woodstock,Inc.purchased a machine costing $40,000.Woodstock also paid $1,000 for transportation and installation.The expected useful life of the machine is 6 years and the residual value is $5,000.How much is the annual depreciation expense assuming use of the straight-line depreciation method?
A) $6,100
B) $6,000
C) $5,950
D) $5,750
Correct Answer:
Verified
Correct Answer:
Verified
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