On January 2,2019,Kaiman Corporation acquired equipment for $700,000.The estimated life of the equipment is 5 years or 80,000 hours.The estimated residual value is $20,000.What is the balance in Accumulated Depreciation on December 31,2020,if Kaiman Corporation uses the straight-line method of depreciation?
A) $140,000
B) $136,000
C) $272,000
D) $280,000
Correct Answer:
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