Multiple Choice
On January 1, 2016, Woodstock, Inc. purchased a machine costing $40,000. Woodstock also paid $1,000 for transportation and installation. The expected useful life of the machine is 6 years and the residual value is $5,000. How much is the annual depreciation expense assuming use of the straight-line depreciation method?
A) $6,100.
B) $6,000.
C) $5,950.
D) $5,750.
Correct Answer:
Verified
Correct Answer:
Verified
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