A New Vehicle Was Purchased on January 1 for $38,000

question 15

Multiple Choice

A new vehicle was purchased on January 1 for $38,000.It has a salvage value of $7,000 and a useful life of 5 years.To the nearest dollar,how much will the depreciation expense for the vehicle be for the first year using the straight-line method?

• A)$6,200
• B)$633
• C)$7,600
• D)$517

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Definitions:

Ediacaran Period

A geological period about 635 to 541 million years ago, marked by the appearance of the earliest large, complex multicellular organisms.

IUCN

The International Union for Conservation of Nature, an organization focused on global conservation and sustainable usage of natural resources.

Human Activities

Actions and behaviors performed by humans that impact the environment, society, and economy.

Microbial Species

A group of microorganisms, which share similar genetic characteristics and can interbreed, forming a distinct group within a genus.