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Ursula Tax Planning Service Has the Following Plant Assets: Communications

Question 4

Multiple Choice

Ursula Tax Planning Service has the following plant assets: Communications equipment: Cost,$7120 with useful life of eight years;Furniture: Cost,$24,000 with useful life of 12 years;and Computer: Cost,$13,600 with useful life of four years. Ursula's monthly depreciation expense calculated using the straight-line method is: (Assume salvage value of all the assets to be zero)


A) $74
B) $283
C) $524
D) $167

Correct Answer:

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