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 the balance of accumulated depreciation for the year ended December 31, 2022, using straight-line depreciation.
A) $21,250.
B) $17,500.
C) $23,750.
D) $30,000.
Answer: C
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