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A vehicle purchased on March 1st, 2017 for $ 100,000 with a residual value of...

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Accounting

A vehicle purchased on March 1st, 2017 for $ 100,000 with a residual value of $20,000 and useful life of 10 years. Depreciation is charged on straight-line basis. How much would be the amount of accumulated depreciation on the year end date of December 31st, 2018 * 2 points

$ 16,000

$ 8,000

$ 16, 333

$ 14,667

Which is correct option?

Answer & Explanation Solved by verified expert
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