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Sweety Pie Inc purchased two new assets on February 1, 2021: an oven at a cost of $230,000 and a trademark for $10,000. The oven
Sweety Pie Inc purchased two new assets on February 1, 2021: an oven at a cost of $230,000 and a trademark for $10,000. The oven has an expected useful life of 10 years and the patent 5 years. The company has a December 31 year end and uses the straight-line method for depreciation. The total depreciation for the oven and patent in 2021 is equal to: a. $5,000 for the oven; $23,000 for the patent O b. $21,083 for the oven; $4,583 for the patent O c. $23,000 for the oven; $5,000 for the patent O d. $23,000 for the oven; $0 for the patent
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