17. Character Company, which uses the perpetual inventory method, purchases different letters for resale. Character had a beginning inventory comprised of nine units at $4 per unit. The company purchased five units at $6 per unit in February, sold eleven units in October, and purchased two units at $7 per unit in December. If Character Company uses the LIFO method, what is the cost of goods sold for the year?

A. $54

B. $26

C. $52

D. $80

18. On September 1, Emil Rovey purchased a vehicle for $48,000 with a residual value of $4,000. The estimated useful life is 10 years and the company uses the straight-line method. What is the depreciation expense for the year ended December 31? (Round your answer to the nearest whole dollar amount.)

A. $1,467

B. $1,100

C. $4,400

D. $1,600

19. Thomas Longbow is the only employee of Presido, Incorporated During the first week of January, Longbow earned $3,600.00 and had federal and state income tax withholdings of $180.00 and $67.50, respectively. FICA taxes are 7.65% on earnings up to $132,900. State and federal unemployment taxes for the period are $225.00 and $36.00, respectively.

What is Presidio's payroll tax expense for the week?

A. $508.50

B. $1,059.30

C. $536.40

D. $783.90