440) A plant asset was purchased on January 1 for $120000 with an estimated salvage value of $10000 at the end of its useful life. The current year's Depreciation Expense is $10000 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $60000. The remaining useful life of the plant asset is 5 years. O. 11 years. O 12 years. O 7 years.

A plant asset was purchased on January 1 for $120000 with an estimated salvage value of $10000 at the end of its useful life. The current year's Depreciation Expense is $10000 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $60000. The remaining useful life of the plant asset is 5 years. 11 years. 12 years. 7 years