Porter Corporation NOTE: The following multiple choice questions require present value information.
On January 1,2012,Porter Corporation signed a five-year noncancelable lease for certain machinery.The terms of the lease called for:
For the year ended December 31,2012,Porter should record depreciation expense for the leased equipment equal to
A) $55,000
B) $39,927
C) $47,912
D) $0

Question

Porter Corporation NOTE: The following multiple choice questions require present value information.
On January 1,2012,Porter Corporation signed a five-year noncancelable lease for certain machinery.The terms of the lease called for:
 For the year ended December 31,2012,Porter should record depreciation expense for the leased equipment equal to
A) $55,000 
B) $39,927 
C) $47,912 
D) $0

Quizplus · Accepted Answer

The Answer of Porter Corporation NOTE: The following multiple choice questions require present value information.
On January 1,2012,Porter Corporation signed a five-year noncancelable lease for certain machinery.The terms of the lease called for:
 For the year ended December 31,2012,Porter should record depreciation expense for the leased equipment equal to
A) $55,000 
B) $39,927 
C) $47,912 
D) $0

Porter Corporation NOTE: the Following Multiple Choice Questions Require Present