Accumulated Depreciation: The company has only one plant asset (equipment) that it purchased at the start of this year. That asset had cost $34,000, had an estimated life of seven years, and is expected to be valued at $4,600 at the end of the seven years. The company uses straight line depreciation method to calculate its depreciation.

c. Accumulated Depreciation: The company has only one plant asset (equipment) that it purchased at the start of this year