On January 1, a Machine with a Useful Life of Five

question 289

Multiple Choice

On January 1, a machine with a useful life of five years and a residual value of $40,000 was purchased for $120,000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation?

• A) $28,800.
• B) $48,000.
• C) $38,400.
• D) $23,040.

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