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On January 1 of year 1, Company T purchased an equipment for 250,000 and uses...

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Accounting

On January 1 of year 1, Company T purchased an equipment for 250,000 and uses the sum-of-the-years' digits method to depreciate the equipment. The estimated salvage value of the equipment is $25,000 and the estimated useful life is five years. What is the equipments carrying amount as of December 31, year 3?

  • A. $50,000
  • B. $60,000
  • C. $70,000
  • D. $80,000

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