Private placements are more common for the sale of stocks than for bonds

Orange Company purchased equipment on July 1 for $28,500 and decided to depreciate the equipment on the straight-line method over its useful life of five years. Assuming the equipment's salvage value is $4,500, the amount of monthly depreciation expense Nelson should recognize is:

a. $2,400 b. $ 200 c. $4800 d. $400 e. $ 450

Prior to acceptance by a seller, a buyer's offer may be revoked:

a. in the event of breach of contract b. provided that the buyer's deposit is retained by the seller c. in the event of the agent's death d. for any reason