Ursula Tax Planning Service has the following plant assets:

Ursula Tax Planning Service has the following plant assets: Communications equipment: Cost, $7,120 with useful life of eight years; Furniture: Cost, $22,800 with useful life of 12 years; and Computer: Cost, $12,000 with useful life of four years

(Assume residual value of all the assets is zero.) Ursula’s monthly depreciation expense calculated using the straight-line method is ________. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $250
B) $158
C) $74
D) $482

ANSWER

D .Straight-line depreciation = (Cost – Residual value) / Useful life
Straight-line depreciation for:
Communications