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Calculate the original cost of the equipment

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Question - On January 1, 2011, Dexter Corporation purchased a piece of equipment, which is being depreciated on a straight-line basis over a useful life of 5 years, with a residual value of $ 10,000. The equipment's accumulated depreciation account has a credit balance of $70,000 and an adjusted credit balance of $105,000 on January 1, 2013 and December 31, 2013, respectively. Calculate the original cost of the equipment?

$115,000

$175,000

$185,000

$105,000

Reference no: EM132164739

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