Ben's Burgers paid $300,000 for a piece of equipment. Ben uses straight-line depreciation. Currently the equipment has a balance in the accumulated depreciation account of $100,000. If the asset has no residual value and an estimated life of 6 years, for how many years has the asset been depreciated?

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The Answer of Ben's Burgers paid $300,000 for a piece of equipment. Ben uses straight-line depreciation. Currently the equipment has a balance in the accumulated depreciation account of $100,000. If the asset has no residual value and an estimated life of 6 years, for how many years has the asset been depreciated?

Ben's Burgers Paid $300,000 for a Piece of Equipment