On April 2, 2017, Victor, Inc. acquired a new piece of filtering equipment. The cost of the
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Question:
On April 2, 2017, Victor, Inc. acquired a new piece of filtering equipment. The cost of the equipment was $380,000 with a residual value of $30,000 at the end of its estimated useful lifetime of 10 years.
Assume that in its financial statements, Victor uses straight-line depreciation and the half-year convention. Depreciation recognized on this equipment in 2017 and 2018 will be:
$26,250 in 2017 and $34,200 in 2018.
$30,000 in 2017 and $35,000 in 2018.
$38,000 in 2017 and $34,200 in 2018.
$17,500 in 2017 and $35,000 in 2018.
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