Luther Soaps Purchased a Machine on January 1, 2010, for $18,000

Multiple Choice

Luther Soaps purchased a machine on January 1, 2010, for $18,000 cash. The machine has an estimated useful life of four years and a salvage value of $4,700. Luther uses the double-declining-balance method of depreciation for all its assets. What will be the machine's book value as of December 31, 2011?

A) $5,100
B) $4,700
C) $4,500
D) $4,300