On January 1, 2005, Lynn Corporation acquired equipment at a cost of $600,000.
To find the answer, we need more information about the equipment. Specifically, we need to know the useful life and the depreciation method used by Lynn Corporation.
Depreciation is the allocation of the cost of an asset over its useful life. Lynn Corporation might use different methods to calculate depreciation, such as straight-line depreciation, reducing balance depreciation, or units-of-production depreciation.
Each method will yield a different depreciation expense each year. Without this information, we cannot determine the answer to your question.