Martin Company purchases a machine at the beginning of the year at a cost of $80,000. The machine is depreciated using the straight-line method.
The machine's useful life is estimated to be 5 years with a $5,000 salvage value. The book value of the machine at the end of year 5 is:
Multiple Choice
$5,000
$0
$15,000
$75,000
$32,000