The Cost of an Asset Is $1,160,000,and Its Residual Value

question 82

Multiple Choice

The cost of an asset is $1,160,000,and its residual value is $160,000.Estimated useful life of the asset is four 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)$500,000
• B)$580,000
• C)$290,000
• D)$250,000

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