Stevenson Company Purchased a Plot of Land for $100,000 on January

question 124

Multiple Choice

Stevenson Company purchased a plot of land for $100,000 on January 1. It plans to hold the land for 7 years and then sell it. What is the amount of annual depreciation to be recorded?

• A) $14,286
• B) $0
• C) $1,190
• D) $10,000

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