On January 1, Comicon Corp

question 5

Multiple Choice

On January 1, Comicon Corp. purchased land with a usable building on it for $300,000. The cost of the land and building were $120,000 and $180,000, respectively. Comicon depreciates the building using the straight-line method over 20 years with an expected $24,000 salvage value. The annual depreciation expense on the building is:

• A)$0.
• B)$5,000.
• C)$7,800.
• D)$10,800.

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A sentence that leads the reader towards one interpretation that ultimately reveals itself to be incorrect, forcing a reevaluation of the sentence’s syntax.

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