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What is the historical cost of the asset

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Reference no: EM133002462

Problem 1: Company A has only one fixed asset. The asset has a useful life of 10 years and is depreciated using the straight line method. If the annual depreciation expense is $5,000, what is the historical cost of the asset?

Select one:

a. $50,000

b. It cannot be determined without knowing in which year the asset was purchased

c. It cannot be determined without knowing the location of the asset

d. It cannot be determined without knowing the salvage value

Reference no: EM133002462

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