On November 1, 2016, Love Company places a new asset into service. The cost of the asset is $90,000 with an estimated 5-year life and $10,000 salvage value at the end of its useful life. What is the depreciation expense for 2017 if Love Company uses the straight-line method of depreciation?
A)$4,000.
B)$16,000.
C)$2,667.
D)$9,000.

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The Answer of On November 1, 2016, Love Company places a new asset into service. The cost of the asset is $90,000 with an estimated 5-year life and $10,000 salvage value at the end of its useful life. What is the depreciation expense for 2017 if Love Company uses the straight-line method of depreciation?
A)$4,000.
B)$16,000.
C)$2,667.
D)$9,000.

On November 1, 2016, Love Company Places a New Asset