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Cardco Inc. has an annual accounting period which ends on December 31. During the current year a depreciable asset which cost $42,000 was purchased on September 2. The asset has a $4,000 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a 5 year life. What is the total depreciation expense for the current year?

a) $1,900.00

b) $7,600.00

c) $2,533.33

d) $2,800.00

e) $3,166.67

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M946790

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