Accounting

20 Equipment was purchased for $15200. Freight charges amounted to $700, and there was a cost of $2400 for building a foundation and installing the equipment. It is estimated that the equipment will have a $2900 residual value at the end of HF its 5-year useful life. Depreciation expense each year using the straight-line M method will be $3660. HI MF $3080. $2420. $2460 HP Sci