Nanki Corporation Purchased Equipment on 1/1/07 for $650,000

question 48

Multiple Choice

Nanki Corporation purchased equipment on 1/1/07 for $650,000. In 2007 and 2008, Nanki depreciated the asset on a straight-line basis with an estimated useful life of 8 years and a $10,000 residual value. In 2009, due to changes in technology, Nanki revised the useful life to a total of six years with no residual value. What depreciation would Nanki record for the year 2009 on this equipment?

• A)$108,333.
• B)$106,667.
• C)$122,500.
• D)None of these is correct.The depreciation for 2007 and 2008 was 2 [($650,000 10,000) 8] = $160,000.This leaves a book value of $490,000 .

---

Definitions:

Racism

Prejudice, discrimination, or antagonism directed against individuals or groups based on their race or ethnicity.

Drug Addiction

A chronic disorder characterized by the compulsive use of drugs despite harmful consequences, leading to significant impairment or distress.

Psychological and Emotional Damage

Psychological and emotional damage involves harm to an individual's mental and emotional state, often resulting from traumatic experiences or events.

Sub-Saharan Africa

The region of Africa located south of the Sahara Desert, characterized by diverse cultures, languages, and ecosystems.