·Question: PepsiCo purchased a manufacturing plant for $1,000,000. The plant has an estimated useful life of 20 years and no salvage value. Calculate the annual depreciation expense for the first year using the straight-line method and provide the journal entry to record the depreciation expense.

Requirements:

• Calculate the annual depreciation expense using the straight-line method.
• Provide the journal entry to record the depreciation expense for the first year.