Multiple Choice
Mark Industries uses the straight-line depreciation method. One asset had been purchased for $11,000. Annual depreciation expense was $2,000 after considering residual value of $1,000. What was the approximate life of the asset?
A) 5.50 years
B) 5.00 years
C) 10.00 years
D) 11.00 years
Correct Answer:
Verified
Correct Answer:
Verified
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