Question 16 of 30 < > View Policies -/3.5 !!! Current Attempt in Progress Equipment was purchased for $298000. Freight charges amounted to $14000 and there was a cost of $40200 for building a foundation and installing the equipment. It is estimated that the equipment will have a $59200 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be O $70440. $58600. $48760. O $47760. eTextbook and Media Save for Later Attempts: 0 of 1 used Submit Answer