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Question 29 ots On January 2, 2023, Lifetime Corporation acquired equipment for $400,000. The estimated life of the equipment is 5 years of 40,000 hours.

Question 29 ots On January 2, 2023, Lifetime Corporation acquired equipment for $400,000. The estimated life of the equipment is 5 years of 40,000 hours. The estimated residual value is $50,000. What is the balance in Accumulated Depreciation on December 31 2024, if Lifetime Corporation uses the straight line method of depreciation? $80,000 O $70,000 + $140,000 O $160,000

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