Multiple Choice
On January 1,2010,Wasson Company purchased a delivery vehicle costing $40,000.The vehicle has an estimated 6-year life and a $4,000 residual value.What is the vehicle's book value as of December 31,2011 assuming Wasson uses the straight-line depreciation method?
A) $12,000
B) $24,000
C) $30,000
D) $28,000
Correct Answer:
Verified
Correct Answer:
Verified
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