(Multiple Choice Question) Abesu Inc. purchased equipment costing $20,000 on January 1, 2019. The equipment amortizes at a rate of 4% each year. Calculate the amortization expense on the equipment for...

(Multiple Choice Question)

Abesu Inc. purchased equipment costing $20,000 on January 1, 2019. The equipment amortizes at a rate of 4% each year. Calculate the amortization expense on the equipment for 2020.

1. $1600