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Big Rock Times Corporation (BRT) acquired equipment on January 1,2017 , for $300,000. The equipment had an estimated useful life of 10 years and an
Big Rock Times Corporation (BRT) acquired equipment on January 1,2017 , for $300,000. The equipment had an estimated useful life of 10 years and an estimated salvage value of $25,000. On January 1,2020 , BRT Corporation revised the total useful life of the equipment to 6 years and the estimated salvage value to be $10,000. Compute the carrying amount of the equipment as of December 31, 2020, if BRT Corporation uses straight-line depreciation. A. $151,667 B. $155,000 C. $190,000 D. $148,333
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