Answer:
The correct answer is B.
Explanation:
Giving the following information:
Cambodian Import Company purchased a depreciable asset for $160,000 on April 1, 2014. The estimated salvage value is $40,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation.
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (160,000 - 40,000)/5= 24,000
Accumulated depreciation= 24,000*2 + 24,000/12*11= $70,000
