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(TCO 4) Our company purchased equipment for $72,000 on January 1, 2011. The equipment is expected to have a five-year life and a residual value

(TCO 4) Our company purchased equipment for $72,000 on January 1, 2011. The equipment is expected to have a five-year life and a residual value of $6,000. Using the straight-line method, depreciation for 2011 would be

a. $14,400.

b. $72,000.

c. $11,300.

d. $13,200.

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