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How determine what the depreciation expense is

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Reference no: EM132592234

Consider an asset for which the following information is available:

Carrying value at Dec 31, 2020 before depreciation $9,000

Calculated depreciation for 2020 $2,400

Original cost $24,000

Residual value $8,500

Remaining useful life3 years

Question 1: The depreciation expense for 2020 is

Option 1: $3,100.

Option 2: $3,000.

Option 3: $2,400.

Option 4: $500.

Reference no: EM132592234

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