Drago Company purchased equipment on January 1, 2016, at a total invoice cost of $1,200,000 The equipment has an estimated salvage value of $30,000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used? Select one: a. $240,000 b. $234,000 C. $480,000 e d. $468,000 Tomko Company purchased machinery with a list price of $96,000. They were given a 10% discount by the manufacturer. They paid $600 for shipping and sales tax of $4,500. Tomko estimates that the machinery will have a useful life of 10 years and a residual value of $30,000. If Tomko uses straight-line depreciation, annual depreciation will be n Select one: a. $6,150. b. $9,150. c. $6,108. d. $5,640