Question - The Andrews Company has just purchased $47,976,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,797,600. What will the depreciation expense for this purchase (exclude all other plant and equipment) be after its second year of use?
$2,878,560
$3,198,400
$6,396,800
$5,757,120