Farmers company purchased equipment on January 1 year one for $96,000 The equipment is estimated to have a five-year life and a salvage value of 13,000 the company use straight line depreciation method at the beginning of year for farmer revise the expected life to eight years the annual amount of depreciation expense for each of the remaining years would be

2. which of the following statements about interest is true? a. interest is a one-time fee that you pay for lending money. b. interest is expressed as a percentage of the amount you are borrowing. c. because interest rates tend to be small numbers, they typically don't have much effect on the price of the goods you're purchasing. d. interest is a penalty that you pay when you don't pay your bills on time.