Anika Company purchased a plot of land for $100,000 on January 1^st. It plans to hold the land for 7 years and then sell it. What is the amount of annual depreciation to be recorded? A) 14,286 B) 0 C) 1,190 D) 10,000

Name: Anika Company purchased a plot of land for $100,000 on January 1 st . It plans to hold the land for 7 years and then sell it. What is the amount of annual depreciation to be recorded? A) 14,286 B) 0 C) 1,190 D) 10,000
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Land is not depreciated because it has an indefinite useful life.

Anika Company Purchased a Plot of Land for $100,000 on January