On January1, 2017, Coco Co. purchased a machine for$65,000, and expects to use the machine a total
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Question:
On January1, 2017, Coco Co. purchased a machine for$65,000, and expects to use the machine a total of45,000 hours over the next four years. The residual value on the machine was set at$3,000. Coco Co.used the machine32,600 hours in 2017 and 21,500 hours in2018, 15,100 hours in 2019 and9,000 hours in 2020.
The accumulated amortization at the end of 2020 fiscal year wouldbe:
A.
$65,000
B.
$62,560
C.
$62,000
D.
$45,000
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