Broadway Ltd. purchased equipment on January 1, 2014, for $840,000, estimating a 6-year useful life and no residual value. In 2014 and 2015, Broadway depreciated the asset using the straight-line method. In 2016, Broadway changed to sum-of-years'-digits depreciation for this equipment. What depreciation would Broadway record for the year 2016 on this equipment? (Do not round your depreciation rate.)

a) $100,000

b) $120,000

c) $240,000

d) $200,000

Answer rating: 100% (QA)

Correct Answer Option D 200000 A Cost 84000000 B Residual Value CA B Deprecia... View the full answer