A Building Was Purchased for $460,000

question 89

Multiple Choice

A building was purchased for $460,000.It currently has accumulated depreciation of $80,000 and had a residual value of $100,000.Assuming the use of straight-line depreciation,its estimated useful life must have been

• A) 5 years.
• B) 10 years.
• C) 14 years.
• D) impossible to determine from the facts given.

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