Iverycoast Inc

question 82

Multiple Choice

Iverycoast Inc. purchased a van on January 1, 2015, for $800,000. Estimated life of the van was 5 years, and its estimated residual value was $90,000. Iverycoast uses the straight-line method of depreciation. At the beginning of 2017, the company revised the total estimated life of the asset from 5 years to 4 years. The estimated residual value remained the same as estimated earlier. Calculate the depreciation expense for the year 2017.

• A)$220,000
• B)$213,000
• C)$145,000
• D)$250,000

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Definitions:

Hyperphagic

Describes an excessive eating behavior, often beyond the physiological need for food.

Achievement Motivation

A psychological construct that drives individuals to pursue and attain goals, often influencing their success in various tasks.

Learning Goal

An educational objective or aim that a person sets for themselves, focusing on acquiring knowledge or mastering a skill.

Altruistic Aim

The goal of acting with selfless concern for the well-being of others.