Cleveland Browns purchased a depreciable asset for $240,000. The estimated salvage value is $22,000, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset?
A) $22,000
B) $24,000
C) $218,000
D) $240,000
A) $22,000
B) $24,000
C) $218,000
D) $240,000