Question 58 (1 point) The difference between a depreciable asset's cost and its residual value is called A) accumulated depreciation. B) the annual depreciation. C) the revaluation amount. D) the depreciable amount. Question 59 (1 point) Fair Corporation issues 7,500 $2 non-cumluative preferred shares for $25 per share. The entry to record the issuing transaction will consist of a debit to Cash for $187,500 and a credit (or credits) to A) Preferred Shares for $172,500 and Contributed Capital $15,000. B) Investment in Preferred Shares for $187,500. C) Preferred Shares for $100,000 and Retained Earnings for $87,500. D) Preferred Shares for $187,500. Question 60 (1 point) When length (term) of a loan is less than one year in length, the interest rates are usually stated as a(n) A) daily rate (%). B) monthly rate (%). C) semi-annual rate (%). D) annual rate (%)