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On January 1, 2018, a machine is purchased for $110,000. It is expected to have...

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Accounting

On January 1, 2018, a machine is purchased for $110,000. It is expected to have a useful life of 10 years, during which time it is expected to be used for 20,000 hours. The salvage value is $10,000. It is used for 5,000 hours in 2018 and 4,000 in 2019. What is the book value at 12/31/19? (The company uses the units-of-production method.)

Select one:

a. $45,000

b. $55,000

c. $65,000

d. $20,000

e. $75,000

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