Multiple Choice
On November 1,2011,Frigate Shipping Company bought equipment that cost $400,000,with an estimated useful life of 8 years and an estimated salvage value of $28,000.The company uses the straight-line method of depreciation and has a fiscal year ending on October 31.At October 31,2013,Frigate Company will report accumulated depreciation of ________.
A) $100,000
B) $66,666
C) $93,000
D) $46,500
Correct Answer:
Verified
Correct Answer:
Verified
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