A firm purchased an asset with a 5-year life for $90,000, and it cost $10,000 for - 3431

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Request Description

A firm purchased an asset with a 5-year life for $90,000, and it cost $10,000 for shipping and installation. Using the simplified straight-line method, what is the annual depreciation?

a. $20000

b. $18000

c. $10000

d. $5000 

Solution Description

A firm purchased an asset with a 5-year life for $90,000,