Question: Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equip was purchased at

Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equip was purchased at a cost of $26,000. Useful life of the equipment averages four years and no salvage value is anticipated. In 2021, equipment costin $5,600 was sold for $780 and replaced with new equipment costing $6,400. Canliss would record 2021 depreciation of: Multiple Choice, $4,820. $3,600 $5,620. None of these answer choices are correct Canliss Mining uses the replacement method to determine depreciation on its office

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