Drago Company purchased equipment on January 1, 2021, at a total invoice cost of $1,200,000. The equipment has an estimated salvage value of $30,000 and an estimated useful life of five years. What is the amount of accumulated depreciation at December 31, 2022, if the straight-line method of depreciation is used? O $480,000 $468,000 $240,000

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QUESTION 4
Drago Company purchased equipment on January 1, 2021, at a total invoice cost of $1,200,000. The equipment has an estimated salvage value of
$30,000 and an estimated useful life of five years. What is the amount of accumulated depreciation at December 31, 2022, if the straight-line
method of depreciation is used?
$480,000
$468,000
$240,000
$234,000
Transcribed Image Text:QUESTION 4 Drago Company purchased equipment on January 1, 2021, at a total invoice cost of $1,200,000. The equipment has an estimated salvage value of $30,000 and an estimated useful life of five years. What is the amount of accumulated depreciation at December 31, 2022, if the straight-line method of depreciation is used? $480,000 $468,000 $240,000 $234,000
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