The Cost of an Asset Is $1,020,000, and Its Residual

question 97

Multiple Choice

The cost of an asset is $1,020,000, and its residual value is $160,000. Estimated useful life of the asset is five years. Calculate depreciation for the second year using the double-declining-balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)

• A) $204,000
• B) $172,000
• C) $344,000
• D) $244,800

---

Definitions:

Children's Personalities

The combination of emotional, attitudinal, and behavioral response patterns of an individual child, which develops over time.

Freudian Psychoanalyst

A mental health professional who practices psychoanalysis based on the theories and methods of Sigmund Freud, focusing on unconscious processes.

Humanist

A person who adopts a philosophical stance emphasizing the value and agency of human beings, individually and collectively.

Human Nature

The inherent characteristics, including ways of thinking, feeling, and acting, that all humans are believed to share.