Current Attempt in Progress Equipment was purchased for $155000. Freight charges amounted to $7400 and there was a cost of $20200 for building a foundation and installing the equipment. It is estimated that the equipment will have a $29900 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be port $25480. O $30540 O $25020 $36520 Attempts: 0 of 1 used Submit Answer Save for Later