The Cost of an Asset Is $1,200,000,and Its Residual Value

question 180

Multiple Choice

The cost of an asset is $1,200,000,and its residual value is $100,000.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)$240,000
• B)$220,000
• C)$440,000
• D)$288,000

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