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On January 2, 2023, Kellogg Corporation acquired equipment for $700,000. The estimated life of the equipment is 5 years or 100,000 hours. The estimated

On January 2, 2023, Kellogg Corporation acquired equipment for $700,000. The estimated life of the equipment is 5 years or 100,000 hours. The estimated residual value is $30,000 What is the book value of the asset on December 31, 2024, if Kellogg Corporation uses the straight-line method of depreciation? (Round any intermediary calculations to two decimal places and your final answer to the nearest dollar) OA. $432,000 OB. $670,000 Oc. $566,000 OD. $700,000

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