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Question - Waterway Industries takes a full year's depreciation expense in the year of an asset's acquisition and no depreciation expense in the year of disposition. Data relating to one of Waterway's depreciable assets at December 31, 2018 are as follows:
Acquisition year 2016
Cost $281000
Residual value 44000
Accumulated depreciation 187000
Estimated useful life 5 years
Using the same depreciation method as used in 2016, 2017, and 2018, how much depreciation expense should Waterway record in 2019 for this asset?
$63600
$31600
$47600
$55600
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