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Cutter Enterprises purchased equipment for $90,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,000.

Cutter Enterprises purchased equipment for $90,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,000. Using the straight-line method, depreciation for 2021 would be:

Multiple Choice

$16,800.

$18,000.

$90,000

None of the other answer choices are correct.

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