Question: dva Help Save & Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2019, its first year of operations, office

dva Help Save & Canliss Mining uses the replacement method to

dva Help Save & Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equipment was purchased at a cost of $24,000. Useful life of the equipment averages four years and no salvage value is anticipated. In 2021, equipment costing $5,400 was sold for $450 and replaced with new equipment costing $7,500. Canliss would record 2021 depreciation of Multiple Choice $4,800 O $4.950 O $7,050 thing None of these answer choices are correct

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