MC Qu. 87 On March 2, 2009, Glen Industries purchased ...

On March 2, 2009, Glen Industries purchased a fleet of automobiles at a cost of $780,000. The cars are to be depreciated by the straight-line method over five years with no salvage value. Glen uses the half-year convention to compute depreciation for fractional periods. The book value of the fleet of automobiles at December 31, 2010, will be:

	$234,000.
	$624,000.
	$702,000.
	$546,000.