MacKenzie Manufacturing purchased equipment for $160,000. In addition, shipping charges of $2,000 were incurred to...
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Accounting
MacKenzie Manufacturing purchased equipment for $160,000. In addition, shipping charges of $2,000 were incurred to obtain the equipment. The company paid $12,500 to construct a foundation and install the equipment. The equipment is estimated to have a residual value of $15,000 at the end of its 5-year useful life. Using the straight-line method, what is the amount of depreciation expense each year?
Multiple Choice
$34,900
$34,500
$31,900
$29,900
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