Equipment with a cost of $220,000 has an estimated residual value of $30,000 and an estimated life of 10 years or 19,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used for 2, 100 hours? a. $19,000 b. $21,000 c. $22,000 d. $30,000 The Weber Company purchased a mining site for $1, 750,000 on July 1. The company expects to mine ore for the 10 years and anticipates that total of 400,000 tons will be recovered. The estimated residual value of the property is $150,000. During the first year, the company extracted 6.500 tons of ore. The depletion expense is a. $17, 500 b. $16,000 c. $26,000 d. $15,000 The total earnings of an employee for a payroll period is referred to as a. take-home pay b. pay net of taxes c. net pay d. gross pay