Business

Axel Davis

4 November, 16:55

A company purchased new furniture at a cost of $32,000 on September 30. The furniture is estimated to have a useful life of 5 years and a salvage value of $3,800. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the furniture for the first year ended December 31?

a. $470

b. $5,590

c. $1,600

d. $1,790

e. $1,410

+5

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