On January 1 a Machine with a Useful Life of Five

question 64

Multiple Choice

On January 1 a machine with a useful life of five years and a residual value of $30000 was purchased for $90000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation?

• A) $21600
• B) $36000
• C) $28800
• D) $17280

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Definitions:

Diffusion Force

A force arising from the concentration gradient that moves molecules from an area of high concentration to one of lower concentration.

Zinc

A metallic chemical element essential for human health, involved in numerous body processes including immune function and enzyme activity.

Coenzymes

Organic non-protein molecules that bind to enzymes and are required for their activity.

Thyroxine

A hormone produced by the thyroid gland that regulates metabolism, energy generation, and nervous system development.