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A government constructed a bridge 20 years ago at a cost of $30 million. The...

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Accounting

A government constructed a bridge 20 years ago at a cost of $30 million. The replacement cost of the bridge today would be $90 million. The bridge has a useful life of 60 years. In its governmentwide statements the government should record the bridge at a value, net of accumulated depreciation, of

A.) $20 million. B.) $60 million. C.) $90 million. D.) $0.

Note: please explain and show calculation as to why option "A" is the correct answer. Thanks!

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