Multiple Choice Question 109 Equipment was purchased for $157000. Freight charges amounted to $7400 and there was a cost of $19000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $30500 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be O $25300. O$26120. O $36680 O $30580