Dewey Company Purchased a Machine That Was Installed and Placed

Multiple Choice

Dewey Company purchased a machine that was installed and placed in service on January 2, 2010, at a total cost of $480,000. Residual value was estimated at $80,000. The machine is being depreciated over ten years by the double-declining-balance method. For the year 2011, Dewey should record depreciation expense of

A) $64,000.
B) $76,800.
C) $80,000.
D) $96,000.