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Machinery Is Purchased for $140 000

Question 36

Multiple Choice

Machinery is purchased for $140 000.It is estimated that it has a useful life of 5 years and a residual value of $20 000.Using the straight-line method,calculate the amount of annual depreciation to be charged.


A) $12 000
B) $24 000
C) $28 000
D) $14 000

Correct Answer:

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