Use the Following Information for Questions

question 7

Multiple Choice

Use the following information for questions.
Swift Company purchased a machine on January 1, 2009, for $300,000.At the date of acquisition, the machine had an estimated useful life of six years with no residual value.The machine is being depreciated on a straight-line basis.On January 1, 2012, Swift determined, as a result of additional information, that the machine had an estimated useful life of eight years from the date of acquisition with no residual value.An accounting change was made in 2012 to reflect this additional information.
-What is the amount of depreciation expense on this machine that should be charged in Swift's income statement for the year ended December 31, 2012?

• A)$30,000
• B)$37,500
• C)$60,000
• D)$75,000

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Definitions:

Psychiatrists

Medical doctors specialized in the diagnosis, treatment, and prevention of mental, emotional, and behavioral disorders.

Biological Treatments

Medical interventions that address the biological aspects of mental disorders, such as medication or neurosurgery.

Physicians

Physicians are medical professionals who diagnose, treat, and help prevent diseases, injuries, and other physical and mental impairments in humans through the application of modern medicine.

SSRIs

Short for Selective Serotonin Reuptake Inhibitors, a class of drugs commonly used to treat depression and anxiety by increasing serotonin levels in the brain.