Best Construction purchased a delivery truck on June 1, 2021. The following information is available:
Cost = $90,000
Estimated service life = 5 years
Estimated residual value = $15,000
Calculate depreciation expense for the year ended December 31, 2021, using straight-line depreciation.
A) $8,750.
B) $15,000.
C) $6,250.
D) $18,000.
Answer: A
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