Multiple Choice Question 86 Equipment was purchased for $315000. Freight charges amounted to $14000 and there was a cost of $39500 for building a foundation and installing the equipment. It is estimated that the equipment will have a $60700 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be O $52300 O $73700. O $61560 o $50860