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What amount will spencer company report

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Question - Farm Company purchased a tractor at a cost of $540,000. The tractor has an estimated salvage value of $60,000 and an estimated life of 8 years, or 12,000 hours of operation. The tractor was purchased on January 1, 2019 and was used 2,400 hours in 2019 and 2,200 hours in 2020.

What amount will Spencer Company report as depreciation expense over the 8-year life of the equipment using straight-line depreciation.

Reference no: EM132994934

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