An Asset Was Purchased on January 1, 2012 at a Cost

question 156

Multiple Choice

An asset was purchased on January 1, 2012 at a cost of $50,000 . It has a residual value of $10,000 and it has a life of 5 years. Its fourth year of depreciation expense under the double-declining-balance method will be:

• A) $7,200.
• B) $4,320.
• C) $800.
• D) $0.
• E) $1,000.

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