Colvin Enterprises Purchased a Depreciable Asset on October 1,Year 1

Multiple Choice

Colvin Enterprises purchased a depreciable asset on October 1,Year 1 at a cost of $100,000.The asset is expected to have a salvage value of $20,000 at the end of its five-year useful life.If the asset is depreciated on the double-declining-balance method,the asset's book value on December 31,Year 2 will be:

A) $36,000
B) $42,000
C) $54,000
D) $16,000
E) $90,000