Drago Company purchased equipment on January 1 2016 at a total invoice cost of $1200000. The equipment has an estimated salvage value of $30000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31 2017 if the straight-line method of depreciation is used?
A) $240000
B) $480000
C) $234000
D) $468000
Correct Answer:
Verified
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