Multiple Choice $40,000. On April 8, Year 1, Jupiter Corporation acquired equipment at a cost of $480,000. The equipment is to be depreciated by the straight-line method over six years with no provision for salvage value. Depreciation for fractional years is computed by rounding the ownership period to the nearest month. Depreciation expense recognized in Year 1 will be: (Do not round your intermediate computations.) $60,000. $80,000. Saved $53,333. Help Save & Exit

On Apri 8, Year 1, Jupiter Corporation acquired equipment at a cost of $480,000. The equipment is to be depreciated by the straight-line method over six years with no provision for salvage value. Depreclation for fractional years is computed by rounding the ownership period to the nearest month. Depreciation expense recognized in Year 1 will be: (Do not round your intermediate computations.) Mutiple Choice $40,000 $60.000 $80,000 $53,333