Multiple Choice
Foyle Company purchased a new van for floral deliveries on January 1, 2016. The van cost $56,000 with an estimated life of 5 years and $14,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the balance of the Accumulated Depreciation account at the end of 2017?
A) $8,960.
B) $26,880.
C) $35,840.
D) $13,440.
Correct Answer:
Verified
Correct Answer:
Verified
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