Question

he Lopen Company purchased a piece of equipment on June 1, 2018 for $75,000. The equipment...

he Lopen Company purchased a piece of equipment on June 1, 2018 for $75,000. The equipment had a salvage value of $8,000 and a useful life of 6 years. Lopen elected to use the sum-of-the-years digits method to depreciate the asset.

What is the balance in accumulated depreciation as of December 31, 2020?

$15,952

$47,857

$19,143

$17,282

$28,448

$35,095

$11,167

None of the other answer choices is correct.

$12,762

$42,540

$14,091
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