Multiple Choice
A company purchased a delivery van for $28,000 with a salvage value of $3,000 on September 1,Year 1.It has an estimated useful life of 5 years.Using the straight-line method,how much depreciation expense should the company recognize on December 31,Year 1?
A) $5,000.
B) $1,667.
C) $1,400.
D) $1,250.
E) $2,067.
Correct Answer:
Verified
Correct Answer:
Verified
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