Equipment was purchased for $144000. Freight charges amounted to $7000 and there was a cost of $19000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $36000 salvage value at the end of its 5-year useful life. Depreciation Expense each year using the straight-line method will be

$21600.

$34000.

$23600.

$26800.

Answer rating: 100% (QA)

Step 1 Step 1 Given Purchase price 144000 Freight charge 700... View the full answer