On January 1,2011,Swinger,Inc

Multiple Choice

On January 1,2011,Swinger,Inc.purchases a batting machine for $240,000 that has an estimated useful life of 5 years and an expected residual value of $20,000.What will the company report on its income statement for the year ended December 31,2012?

A) Financing activity cash outflow of $(44,000)
B) Equipment will be reported as an asset at a book value of $152,000.
C) Depreciation expense of $44,000
D) Depreciation expense of $88,000