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Find what is depreciation expense for garrison corporation

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Problem 1: Garrison Corporation purchased a depreciable asset for $320,000 on January 1, 2015. The estimated salvage value is $32,000, and the estimated total useful life is 9 years. The straight-line method is used for depreciation. On January 1, 2017, Garrison changed its estimates to a useful life of 5 years from its original purchase date with a salvage value of $40,000. What is the 2018 depreciation expense?

Select one:

Option a. $42,000

Option b. $72,000

Option c. $112,000

Option d. $126,000

Option e. $168,000

Reference no: EM132621329

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