Question: Cutter Enterprises purchased equipment for $ 9 6 , 0 0 0 on January 1 , 2 0 2 4 . The equipment is expected

Cutter Enterprises purchased equipment for $96,000 on January 1,2024. The equipment is expected to have a five-year life and a residual value of $6,300.
Using the straight-line method, depreciation for 2024 would be:Cutter Enterprises purchased equipment for $96,000 on January 1,2024. The equipment is expected to have a five-year life and a residual value of $6,300.
Using the straight-line method, depreciation for 2024 would be:
Multiple Choice
$17,940.
$19,200.
$96,000.
None of the other answer choices are correct.
Cutter Enterprises purchased equipment for $96,000 on January 1,2024. The equipment

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