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Melrose Ltd purchased office equipment on 1 November 2020, with a list price of $90,000. Freight costs of $2,400 and installation costs of $3,000 were
Melrose Ltd purchased office equipment on 1 November 2020, with a list price of $90,000. Freight costs of $2,400 and installation costs of $3,000 were also paid in cash. The office equipment has a useful life of 5 years and a residual value at the end of its useful life of $0. Under the straight-line method, depreciation expense for the year ending 30 June 2021 will be:
Select one:
$18 480
$12 720
$19 080
$12 320
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