A company purchased an asset for $100,000. The asset is expected to last for 10...
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Accounting
A company purchased an asset for $100,000. The asset is expected to last for 10 years, with no residual value at the end of its useful life. Assume that the company has adopted a partial-year depreciation policy. Half of a year's depreciation is taken in the year of purchase and sale, while a full years depreciation is applied to the remaining years. Therefore, the amount of depreciation recorded in the year of purchase is:
a. $0
b. $15,000
c. $10,000
d. $5,000
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