Mitchell Corporation Bought Equipment on January 1, 2017

question 131

Multiple Choice

Mitchell Corporation bought equipment on January 1, 2017. The equipment cost $300,000 and had an expected salvage value of $50,000. The life of the equipment was estimated to be 6 years. The depreciation expense using the straight-line method of depreciation is

• A)$58,333.
• B)$60,000.
• C)$41,667.
• D)none of these answer choices are correct.

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