Equipment with a Cost of $160,000, an Estimated Residual Value

question 42

Multiple Choice

Equipment with a cost of $160,000, an estimated residual value of $40,000, and an estimated life of 15 years was depreciated by the straight-line method for 4 years. Due to obsolescence, it was determined that the useful life should be shortened by 3 years and the residual value changed to zero. The depreciation expense for the current and future years is

• A) $11,636
• B) $16,000
• C) $11,000
• D) $8,000

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Definitions:

Jim Crow

Laws or regulations in the United States that enforced racial segregation and discrimination against African Americans, predominantly in the South, from the late 19th century until the mid-20th century.

Eugenics

A set of beliefs and practices aimed at improving the genetic quality of a human population, often historically associated with discriminatory and unethical practices.

Sterilized

A medical procedure or process that completely eliminates the ability of an organism to reproduce, often applied to instruments to prevent infection.

Mentally Retarded

An outdated and offensive term formerly used to describe individuals with intellectual disabilities; modern terminology favors "intellectually disabled" or "developmental disability."