In January,Fanning Corporation Entered into a Contract to Acquire a New

question 31

Multiple Choice

In January,Fanning Corporation entered into a contract to acquire a new machine for its factory.The machine,which had a cash price of $400,000,was paid for as follows:

Prior to the machine's use,installation costs of $10,000 were incurred.The machine has an estimated useful life of ten years and an estimated salvage value of $10,000.What should Hunter record as depreciation expense for the first year under the straight-line method?

• A)$38,100
• B)$39,100
• C)$40,000
• D)$41,000

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Definitions:

Single Letter Code

The system of representing amino acids or nucleotides using single letter abbreviations to simplify notation in sequences.

Peptide

Short chains of amino acid monomers linked by peptide (amide) bonds, playing crucial roles in biological functions.

α-Carbon

The carbon atom directly attached to a functional group in an organic molecule.

Racemic Mixtures

A mixture containing equal amounts of two enantiomers of a compound, making it optically inactive due to the canceling effect of the two forms' rotation of plane-polarized light.