Multiple Choice
On January 1, 2008, Grayson Company purchased for $240,000 a machine with a useful life of ten years and no salvage value. The machine was depreciated by the double-declining-balance method, and the carrying amount of the machine was $153,600 on December 31, 2009. Grayson changed to the straight-line method on January 1, 2010. Grayson can justify the change. What should be the depreciation expense on this machine for the year ended December 31, 2011?
A) $15,360
B) $19,200
C) $24,000
D) $30,720
Correct Answer:
Verified
Correct Answer:
Verified
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