Bates Company purchased equipment on January 1, 2021 at a total invoice cost of $1,200,000.The equipment has an estimated salvage value of $30,000 and an estimated useful life of 5 years.What is the amount of accumulated depreciation at December 31, 2022 if the straight-line method of depreciation is used?
A)$240,000.
B)$480,000.
C)$234,000.
D)$468,000.

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The Answer of Bates Company purchased equipment on January 1, 2021 at a total invoice cost of $1,200,000.The equipment has an estimated salvage value of $30,000 and an estimated useful life of 5 years.What is the amount of accumulated depreciation at December 31, 2022 if the straight-line method of depreciation is used?
A)$240,000.
B)$480,000.
C)$234,000.
D)$468,000.

Bates Company Purchased Equipment on January 1, 2021 at a Total