Mitchell Corporation bought equipment on January 1, 2022. The equipment cost $120,000 and had an expected salvage value of $20,000. The life of the equipment was estimated to be 6 years. Straight-line depreciation was used. The depreciation expense each year is: Select one: a. $23,333 b. $24,000 c. $16,667 d. $20,000 Mitchell Corporation bought equipment on January 1, 2022. The equipment cost $120,000 and had an expected salvage value of $20,000. The life of the equipment was estimated to be 6 years. Straight-line depreciation was used Accumulated Depreciation at the end of the third year would be: Select one: a. $60,000 b. $40,000 c. $86,667 d. $70,000 e. $50,000 If Laron Corporation has 80,000 shares of common stock unissued, 50,000 shares of common stock issued, and holds 12,000 shares of common stock as treasury stock, the total number of authorized shares of Laron Corporation amounts to: Select one: a. 130,000 b. 118,000 c. 38,000 d. 68,000 O e. 42,000