Use the Following Information for Questions

question 116

Multiple Choice

Use the following information for questions
On January 1, 2022, Anvil Corp.purchased equipment for $60,000.It was expected to last 5 years, after which it will be sold for $5,000.It is expected to be used for a total of 10,000 machine hours, and was used for 750 hours during the year ended December 31, 2022.
-The depreciation expense for 2022 using the double diminishing-balance method will be

• A)$11,000.
• B)$12,250.
• C)$12,000.
• D)$24,000.

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Definitions:

Suggestibility

The tendency of an individual to accept and act on suggestions by others, often studied in psychological contexts such as memory and hypnosis.

Magnetic Fields

Invisible fields that exert force on objects that possess magnetic properties or are conducting electricity, influencing their orientation and behavior.

REM Sleep

A phase of sleep characterized by rapid eye movement, where dreaming occurs and the body undergoes a variety of changes, including increased brain activity.

Color

The attribute of visual perception described through hue, saturation, and brightness, as determined by the spectral composition of light.