An Asset with an Initial Value of $15,000 Has a Salvage

question 47

Multiple Choice

An asset with an initial value of $15,000 has a salvage value of $2000 after 10 years.What is the absolute value of the difference between the depreciation expenses entered in the books in the seventh year under the straight-line method and under the declining-balance method?

• A)$682.88
• B)$482.87
• C)$631.99
• D)$2239.43