On July 31, 2016, Colora Printers purchased a printer for $57,000
It expects the printer to last for four years and have a residual value of $11,000. Compute the depreciation expense on the printer for the year ended December 31, 2016, using the straight-line method.
A) $11,500
B) $4,792
C) $14,250
D) $6,708
B .Depreciation per year = (Cost - Residual value) / Useful life
Depreciation for the first year = (($57,000 - $11,000 ) / 4 ) x (5 /12 ) = $4,792
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