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What togo depreciation expense for the year ended is

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At the beginning of 20x1, Togo, Inc. entered into a finance lease to acquire equipment. The lease requires four annual payments of $25,663 beginning on December 31, 20x1. The present value of the lease payments, discounted at 8%, is $85,000. The leased asset is expected to be worthless at the end of the lease and Togo uses the straight-line depreciation method.

Question 1: Togo's depreciation expense for the year ended 20x1 is closest to:

A) 0

B) 21,000

C) 28,000

Reference no: EM132656254

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