Question:Micah Barlett Company purchase equipment on Janurary 1,2001, at a total invoice cost $400,000. The equipment has an estimated salvage value of $10,000 and an estimated useful life of 5 years. The amount of accumulated depreciation at December 31, 2002, if the straight line method of depreciation is used is:
A $80,000
B $160,000
C $78,000
D $156,000
+ AnswerD
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