On january 1 20a straight inc. purchased a machine with a, Ask an Expert

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On January 1, 20A, Straight, Inc., purchased a machine with a cash price of $9,500. Straight also paid $500 for transportation and installation. The expected useful life of the machine is 5 years and the residual value is $500. Assuming straight-line depreciation, the annual depreciation expense would be

a. $2,100.

b. $2,000.

c. $1,900.

d. $1,800.

e. None of the above is correct.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M996729

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