On January 1, year 1, Frick, Inc. purchased equipment having an estimated salvage value equal to 20% of its originalcost at the end of a ten-year life.

On January 1, year 1, Frick, Inc. purchased equipment having an estimated salvage value equal to 20% of its originalcost at the end of a ten-year life. The equipment was sold December 31, year 5, for 50% of its original cost. If theequipment’s disposition resulted in a reported loss, which of the following depreciation methods did Frick use? Question 1 options: Double-declining balance. Sum-of-the-years’ digits. Straight-line. Composite.

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