At what amount is the depreciation expense reported

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Question - On January 1 2018. Biomira Inc. , a Canadian company , purchased types of equipment from Biovail Corporation based in the United States for U5$1.700,000 The exchange rate at the time of purchase was US$1=C$1.05. The December 31 2018. The exchange rate was cup S$1=C$1.02 and the average exchange rate for 2018 was cup SS1=C$1.04. The equipment is being depreciated on a declining balance basis at a rate of 20%. At what amount is the depreciation expense for this equipment reported on Biomira's income statement for the year ended December 31.

Reference no: EM133081393

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