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Compute depreciation and book value

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Question - Archie Co. purchased a framing machine for $54,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $2,000 at the end of four years.

Using the straight-line method, compute depreciation for 2022 and book value at December 31, 2022?

a. $13,000 and $26,000 respectively.

b. $13,000 and $28,000 respectively.

c. $13,500 and $25,000 respectively.

d. $13,500 and $27,000 respectively.

Reference no: EM132574553

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