On January 1, 2018, Busy Beaver, Inc. signed a $315,000, 5 year note payable to buy a new industrial veneer cutter. Busy Beaver plans to use the machine for 10 years and then sell it for its scrap value of $5,000. Using straight-line depreciation, depreciation expense for the year ended December 31, 2018 equals:
A. $31,000.
B. $31,500.
C. $283,500.
D. $284,000.
Answer: A
Business
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