Multiple Choice Question 134 Equipment costing $250000 with a salvage value of $21000 and an estimated life of 8 years has been depreciated using the straight-line method for 2 years. Assuming a revised estimated total life of 6 years and no change in the salvage value, the depreciation expense (rounded) for Year 3 would be $42938. $38167. O $28625. O$57250. Open Show Work Click if you would like to Show Work for this question: Multiple Choice Question 193 The following information is provided for Nguyen Company and Northwest Corporation. Nguyen Company Northwest Corporation (in $ millions) Net income 2017 $165 $420 Net sales 2017 1,650 4,900 Total assets 12/31/15 1,000 2,400 Total assets 12/31/16 1,050 3,000 Total assets 12/31/17 4,000 1,150 If Nguyen and Northwest are in the same industry and the industry average for asset turnover is equal to 1.20 times, which of the following statements is true? The asset turnover does not address the question of efficient operations. OOnly Nguyen is operating more efficiently than the industry Northwest is operating more efficiently than Nguyen. Both Nguyen and Northwest are operating more efficiently than the average company in their industry. Click if you would like to Show Work for this question: Open Show Work Multiple Choice Question 47 A company purchased land for $88000 cash. Real estate brokers' commission was $4000 and $6600 was spent for demolishing an old building on the land before construction of recorded at new building could start. Proceeds from salvage of the demolished building was $1800. Under the historical cost principle, the cost of land would be O $92800 $98600. $96800. $88000 Click if you would like to Show Work for this question: Open Show Work