NOLO Company determines that equipment it has for sale has suffered a permanent impairment in value because of technological changes. After the impairment loss has been recorded, the equipment will be reported at its

NOLO Company determines that equipment it has for sale has suffered a permanent impairment in value because of technological changes. After the impairment loss has been recorded, the equipment will be reported at its

A. carrying value.

B. fair value.

C. cost.

D. net realizable value.

On January 1, 2020, Franklin Company purchased equipment for $320,000. The equipment is estimated to have a salvage value of $20,000 and is being depreciated over five years using the sum-of-the-years'-digits method. What is depreciation expense on the equipment for the year ended December 31, 2025?

On January 1, 2020, Franklin Company purchased equipment for $320,000. The equipment is estimated to have a salvage value of $20,000 and is being depreciated over five years using the sum-of-the-years'-digits method. What is depreciation expense on the equipment for the year ended December 31, 2025?

$85,333

$80,000

$42,667

$40,000