On January 2, 2017, Kellogg Corporation acquired equipment for $800,000. The estimated life of the equipment is 5 years or 80,000 hours. The estimated residual value is $10,000. What is the book value of the asset on December 31, 2018, if Kellogg Corporation uses the straight-line method of depreciation? (Round any intermediary calculations to two decimal places and your final answer to the nearest dollar.)
A) $642,000
B) $484,000
C) $800,000
D) $790,000
Correct Answer:
Verified
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