Final Exam Online i

Kansas Enterprises purchased equipment for $$73,500$ on January $1,2024.$ The equipment is expected to have a ten$-$year service life, with a residual value of $$7,800$ at the end of ten years.

Using the straight$-$line method, depreciation expense for $2025$ and the book value at December $31,2025,$ would be:

Multiple Choice

$$6,570$ and $$60,360,$ respectively.

$$7,350$ and $$58,800,$ respectively.

$$6,570$ and $$52,560,$ respectively.

$$7,350$ and $$51,000,$ respectively.