The Cost of an Asset Is $1,090,000,and Its Residual Value

question 184

Multiple Choice

The cost of an asset is $1,090,000,and its residual value is $300,000.Estimated useful life of the asset is eight years.Calculate depreciation for the first 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) $197,500
• B) $272,500
• C) $136,250
• D) $98,750

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