Q3

On 1/1/19, Dawkins, Inc. purchased equipment. Relevant information is as follows: Useful life: 10 Salvage value: $120,750 Cost: $2,777,250 Depreciation expense for 2020 (the 2nd year of use) is: a) $443,360 O b) $1,010,310 O c) $370,300 O d) $555,450 O e) None of these answers is correct