Macbeth Corp.'s comparative statements of financial position at December 31, 2017 and 2016 reported accumulated depreciation balances of $960,000 and $720,000, respectively.Equipment with a cost of $60,000 and a book value of $48,000 was the only equipment sold in 2017.Therefore, the depreciation expense for 2017 was
A)$228,000.
B)$240,000.
C)$252,000.
D)$264,000.

Question

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The Answer of Macbeth Corp.'s comparative statements of financial position at December 31, 2017 and 2016 reported accumulated depreciation balances of $960,000 and $720,000, respectively.Equipment with a cost of $60,000 and a book value of $48,000 was the only equipment sold in 2017.Therefore, the depreciation expense for 2017 was
A)$228,000.
B)$240,000.
C)$252,000.
D)$264,000.