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On January 1, 2019, Portly Corporation acquired equipment for $136,000. The estimated life of the...

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Question

Accounting

On January 1, 2019, Portly Corporation acquired equipment for $136,000. The estimated life of the equipment is 10 years or 45,000 hours. The estimated residual value is $10,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Portly Corporation uses the units of production method of depreciation and used the machine for 2,600 hours?

Select one:

a.

$12,600

b.

$7,280

c.

$7,858

d.

$27,200

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