Cut-up’s Hair Styling uses straight-line depreciation. The company purchased equipment costing $1,200 on January 1, 2001. The equipment is expected to last four years with $0 salvage value. What is the annual amount of depreciation expense the company should record?
A) $400
B) $300
C) $1,200
D) $100

Answer is B ($1200/4=$300)

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