An Asset Has a Cost of $70,000 with a Residual

question 60

Multiple Choice

An asset has a cost of $70,000 with a residual value of $14,000. It has a life of 5 years and was purchased on January 1. Its fourth full year of depreciation expense under double-declining-balance will be: (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)

• A)$10,080.
• B)$6,048.
• C)$1,120.
• D)$0.