Iverycoast Inc

question 72

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. Calculate the book value of the van at the end of 2015.

• A)$650,000,
• B)$750,000
• C)$710,000
• D)$658,000

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Definitions:

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