Classic straight line depreciation of a $100,000 asset takes place over a 5-year recovery period. If the salvage value is 15% of first cost, the depreciation charge for year 3 is closest to: (choose one)
(a) $17,000
(b) $20,000
(c) $24,000
(d) $28,000
Depreciation is same for all years in straight line method.
D3 = [100,000 – 0.15(100,000)]/5 = $17,000
Answer is (a) $17,000
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