Newman CoPurchased CNC Router Cutting and Engraving Machinery at a Cost

question 2

Multiple Choice

Newman Co.purchased CNC router cutting and engraving machinery at a cost of $320,000 in January 2019.The company's estimated useful life of this high tech equipment is 5 years, and the estimated salvage value is $48,000. Using declining-balance depreciation at twice the straight-line rate, the depreciation expense to be recognized for 2020, the second year of the machinery's life, would be:

• A)$43,520.
• B)$51,200.
• C)$76,800.
• D)$84,480.

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Definitions:

Unwanted Software

Programs that are installed on a system without the user's consent, often leading to negative performance impacts or security risks.

New Computers

Recently manufactured computer systems that often feature the latest technology and specifications.

Open Source Software

Software with source code that anyone can inspect, modify, and improve, promoting collaborative software development.

LibreOffice

A free and open-source office suite that provides a range of productivity applications similar to Microsoft Office.