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A plant asset was purchased on January 1 for $62500 with an estimated salvage value of $10000 at the end of its useful life. The
A plant asset was purchased on January 1 for $62500 with an estimated salvage value of $10000 at the end of its useful life. The current year's depreciation expense is $3500 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $14000. The remaining useful life of the plant asset is
A | 4 years. |
B | 15 years. |
C | 18 years. |
D | 11 years. |
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