Use the Following Information for the Next Questions 104 and 105

question 67

Multiple Choice

Use the following information for the next questions 104 and 105.
A corporation using the double-declining-balance method of depreciation purchased a new machine on January 1, 2016.The machine cost $200,000, had an estimated useful life of 8 years and $25,000 residual value at the end of its useful life.
-Use the information above to answer the following question.What is the depreciation expense for 2016?

• A) $25,000
• B) $50,000
• C) $12,500
• D) $37,500

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Definitions:

Workers' Compensation Act

Legislation designed to provide financial compensation and medical benefits to workers who are injured or become ill as a direct result of their job.

Sue Employer

The action of bringing a legal case against an employer, often related to disputes over employment conditions, rights, or terminations.

Wrongful Dismissal

Ending an employee's employment agreement illegally or in a manner that breaches the contract's conditions.

Employment Contract

An employment contract is a legally binding agreement between an employer and an employee that outlines the terms and conditions of employment, including duties, compensation, and termination procedures.