Multiple Choice
On January 1, a machine with a useful life of five years and a residual value of $3,000 is purchased for $15,000. What is the depreciation expense in year 3 under straight-line depreciation?
A) $3,000
B) $2,400
C) $7,200
D) $9,000
Correct Answer:
Verified
Correct Answer:
Verified
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