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North Company purchased a machine for $180,000 on January 1, 2017. The machine is expected...

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Accounting

North Company purchased a machine for $180,000 on January 1, 2017. The machine is expected to have a four-year life, with a residual value of $20,000 at the end of four years. Using the straight-line method, depreciation for 2014 and book value at December 31, 2018 would be

$40,000 and $80,000

$45,000 and $90,000

$45,000 and $70,000

$40,000 and $100,000

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