Equipment was purchased for $308000. Freight charges amounted to $13600 and there was a cost...
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Equipment was purchased for $308000. Freight charges amounted to $13600 and there was a cost of $40400 for building a foundation and installing the equipment. It is estimated that the equipment will have a $60900 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be:
a. 72400
b. 60220
c. 49420
d. 50800
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