On January 1, 2018, Jordan, Inc. acquired a machine for $1,100,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $61,000. Calculate the depreciation expense per year using the straight-line method.

$207,800

Explanation:

Given that,

Cost of machine = $1,100,000

Estimated useful life = 5 years

Residual value at the end of five years = $61,000

Depreciation refers to the fall in the value of the fixed assets with the passage  of time. Here, we are using the straight-line method.

Depreciation expense per year:

= (Cost of machine - Residual value) ÷ Useful life

= ($1,100,000 - $61,000) ÷ 5 years

= $1,039,000 ÷ 5 years

= $207,800

D.

Explanation:

A brokers' call can be defined as the interest rate that banks charge on loans given to brokerage firms. It is also known as call loan rates. The brokers use this loan to fund their traders' margin account.

The statements correct about brokers' calls from the given options is D. The broker's calls are funds used by both individuals and broker from the bank. Individuals use this loan to buy stocks whereas brokers borrow with an agreement to repay immediately.

Therefore, option D is correct.