The equipment has an estimated useful life of 5 years and an estimated salvage value of $75,000. The current year end is 12/31/11. Davis records…

The equipment has an estimated useful life of 5 years and an estimated salvage value of $75,000. The current year end is 12/31/11. Davis records depreciation to the nearest month. _____ 5. What is straight-line depreciation for 2011? A. $82,500. B. $90,000. C. $165,000. D. $180,000. _____ 6. What is sum-of-the-years”-digits depreciation for 2011? A. $219,999. B. $247,500. C. $270,000. D. $275,000. _____ 7. What is double-declining-balance depreciation for 2011? A. $216,000. B. $288,000. C. $330,000. D. $360,000. _____ 8. If Davis expensed the total cost of the equipment at 7/1/10, what was the effect on 2010 and 2011 income before taxes, assuming Davis uses straightline depreciation? A. $735,000 understated and $165,000 overstated. B. $810,000 understated and $90,000 overstated. C. $817,500 understated and $165,000 overstated. D. $900,000 understated and $90,000 overstated. _____ 9. If, at the end of 2012, Davis Company decides the equipment still has five more y

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