Question - You are given the following information for Mobility Research, Inc. (MRI).
Sales $200,000
Costs $105,000
SG&A $20,000
Interest $21,000
Dividend paid $9,000
Retained Earnings Added $21,000
Total Assets $85,000
Equity $45,000
Tax Rate 35%
How much was the depreciation charge for MRI?
A. $1,231
B. $7,846
C. $20,077
D. $16,000
E. $3,769
F. $11,923