Acquisition cost of the equipment

Reference no: EM13131613

On January 2, 2005, Payne Company acquired equipment to be used in its manufacturing operations. The equipment has an estimated useful life of 10 years and an estimated salvage value of $15,000. The depreciation applicable to this equipment was $70,000 for 2008, computed under the sum-of-the-years'-digits method. What was the acquisition cost of the equipment?

Reference no: EM13131613

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