THS QUIZ TUDIS DOS A new vehicle was purchased on January 1 for $42.000. It has...

Question

Question

Answer 1

Answer #1

Answer: D. $7,000

Explanation

Depreciation Expense = (Cost of vehicle - Salvage value) / Useful life

= ($42,000 - $7,000) / 5 year

= $7,000

Answer 2

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