Equipment was purchased for $300,000. freight charges amounted to $14,000 and there was a cost of $40,000 for building a foundation and installing the equipment. it is estimated that the equipment will have a $60,000 salvage value at the end of its 5-year useful life. depreciation expense each year using the straight-line method will

$59,200

Explanation:

Purchased price of Equipment = $300,000

Freight charges = $14,000

Cost of foundation = $40,000

Salvage value = $60,000

Useful life = 5 years

Total asset cost = $300,000 + $14,000 + $40,000

                           = $354,000

Annual depreciation = ($354,000 - $60,000)/5

                                  = $296,000/5

                                  = $59,200

Depreciation expense each year using the straight-line method will be $59,200

the answer to this question would be shared investment