Equipment was purchased for 300,000. Freight charges amounted to 14,000 and there was a cost...
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Accounting
Equipment was purchased for 300,000. Freight charges amounted to 14,000 and there was a cost of 40,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a 60,000 residual value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be?
Select one alternative:
- 70,800
- 58,800
- 48,000
- 49,200
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