What is the depreciation expense for the first year straight-line method using the following?

Question

Quizplus · Accepted Answer

To calculate depreciation expense using the straight-line method, we need to subtract the salvage value from the cost of the asset and then divide by the useful life of the asset. 
Depreciation expense = (Cost - Salvage value) / Useful life
In the given information, the cost of the asset is $40,000, the salvage value is $4,000, and the useful life is 10 years.
Depreciation expense = ($40,000 - $4,000) / 10 = $3,600 per year.
Therefore, the correct choice is C. None of the other options is equal to $3,600.

What Is the Depreciation Expense for the First Year Straight-Line