Use the information below for Flora Inc for 2016 and 2017 to answer the following question. Equipment, December 31, 2016 $65,000 Equipment, December 31, 2017 72,000 Accumulated depreciation, December 31, 2016 39,000 Accumulated depreciation, December 31, 2017 30,000 During 2017, Flora Inc sold equipment with a cost of $30,000 and accumulated depreciation of $25,000 . A gain of $3,000 was
recognized on the sale of the equipment This was the only equipment sale during the year. What was depreciation expense for 2017?
a. $9,000
b. $16,000
c. $21,000
d. $30,000
b
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What will be an ideal response?
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What will be an ideal response?
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What will be an ideal response?