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What depreciation expense year using straight-line method

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Question 1: Equipment was purchased for $294000. Freight charges amounted to $13500 and there was a cost of $39900 for building a foundation and installing the equipment. It is estimated that the equipment will have a $59800 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be

Option 1: $48120.

Option 2: $69480.

Option 3: $57520.

Option 4: $46840.

Reference no: EM132472533

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