Multiple Choice
On January 1,2011,Ace Electronics paid $400,000 cash for a computer that would be used to store and process its accounting information.The computer has a 5-year useful life,after which it will be worthless because it will be obsolete.How much depreciation expense should Ace Electronics record for the year ended December 31,2011,using the straight-line method?
A) $400,000
B) $40,000
C) $80,000
D) $160,000
Correct Answer:
Verified
Correct Answer:
Verified
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