In January, Hunter Corporation Entered into a Contract to Acquire

question 79

Multiple Choice

In January, Hunter Corporation entered into a contract to acquire a new machine for its factory. The machine, which had a cash price of $300,000, was paid for as follows:

Prior to the machine's use, installation costs of $8,000 were incurred. The machine has an estimated useful life of ten years and an estimated salvage value of $10,000. What should Hunter record as depreciation expense for the first year under the straight-line method?

• A) $29,800
• B) $30,000
• C) $31,000
• D) $31,800

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