Q: 72

51. On January 2, 2015, Kaiman Corporation acquired equipment for $300,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $20,000. What is the balance in Accumulated Depreciation on December 31, 2016, if Kaiman Corporation uses the straight-line method of depreciation?

Group of answer choices

B) $60,000

D) $120,000

C) $112,000

A) $30,000