Multiple Choice
Star Bright Tea Co. purchases equipment with a cost of $54,400 and a trade-in value of $4,000. Star Bright Tea Co. estimates that the equipment will have a useful life of 7 years. What is the amount of depreciation for one month assuming the straight-line method?
A) $600
B) $647.62
C) $7,200
D) $7,771.43
Correct Answer:
Verified
Correct Answer:
Verified
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