On September 1, a Machine Was Purchased for $47,000 with a Useful

question 90

Multiple Choice

On September 1, a machine was purchased for $47,000 with a useful life of 8 years, and a residual value of $3,000.What is the depreciation expense in the year of purchase under straight-line method, assuming a December 31 year-end?

• A) $3,917
• B) $3,667
• C) $1,958
• D) $1,833

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