The Cost of an Asset Is $1,000,000 and Its Residual

question 8

Multiple Choice

The cost of an asset is $1,000,000 and its residual value is $100,000.Estimated useful life of the asset is four years.Calculate depreciation for the first year using the double-declining-balance method of depreciation.

• A)$450,000
• B)$500,000
• C)$250,000
• D)$225,000

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