An American company has a residential building that was placed on service on August 1, 2010. The building costs $540,000 including $140,000 for the cost of land. It will depreciated in 27.5 years. What is the depreciation for the first year ? 5,454.54 7,363.63 6,060.60 8,181.81

An American company has a residential building that was placed on service on August 1, 2010. The building costs $540,000 including $140,000 for the cost of land. It will depreciated in 27.5 years. What is the depreciation for the first year ? 5,454.54 7,363.63 6,060.60 8,181.81

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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An American company has a residential building that was placed on service on August 1, 2010. The building costs $540,000 including $140,000 for the cost of
land. It will depreciated in 27.5 years. What is the depreciation for the first year ?
5,454.54
7,363.63
6,060.60
8,181.81

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