Michele Company Purchased a Piece of Equipment for $65,000 with an Estimated

question 57

Multiple Choice

Michele Company purchased a piece of equipment for $65,000 with an estimated residual value of $15,000 on January 1, 2012. Its estimated life is 5 years. To the nearest dollar, what is the equipment's depreciation using the double-declining-balance method for 2013?

• A) $26,000
• B) $20,000
• C) $15,600
• D) $12,000
• E) $15,700

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Definitions:

Retrograde Pyelography

A diagnostic imaging test where dye is injected into the bladder and travels up the ureters to the kidneys, used to detect abnormalities.

Specific Gravity

A measure of the density of a substance compared to the density of water.

Urine

A liquid waste product filtered from the blood by the kidneys, excreted through the urethra.

High-Frequency Sound Waves

Sound waves that have a frequency higher than the upper limit of human hearing, used in applications like ultrasound imaging.