Equipment was purchased for $84400 on January 1, 2016. Freight charges amounted to $2400 and there was a cost of $8000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $15000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used? 07udat44 ed unt oat a. $15960. b. $14800. C. $28480 $31920
