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Compute the Wildhorse net income for the year ended December

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Question - Wildhorse Company purchased equipment that cost $3405000 on January 1, 2020. The entire cost was recorded as an expense. The equipment had a 9-year life and a $136200 residual value. Wildhorse uses the straight-line method to account for depreciation expense. The error was discovered on December 10, 2022. Wildhorse is subject to a 40% tax rate.

Compute the Wildhorse's net income for the year ended December 31, 2020?

a. $1825080.

b. $2043000.

c. $3405000.

d. $3041800.

Reference no: EM132707425

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