On June 1,Michael Company purchased equipment at a cost of $120,000 that has a depreciable cost of $90,000 and an estimated useful life of 3 years or 30,000 hours. Using straight-line depreciation,calculate depreciation expense for the second year.
A)$17,500
B)$12,500
C)$30,000
D)$40,000

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The Answer of On June 1,Michael Company purchased equipment at a cost of $120,000 that has a depreciable cost of $90,000 and an estimated useful life of 3 years or 30,000 hours. Using straight-line depreciation,calculate depreciation expense for the second year.
A)$17,500
B)$12,500
C)$30,000
D)$40,000

On June 1,Michael Company Purchased Equipment at a Cost of $120,000