A Company Purchased Factory Equipment for ¥1,400,000

Multiple Choice

A company purchased factory equipment for ¥1,400,000. It is estimated that the equipment will have a ¥140,000 residual value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be

A) ¥560,000.
B) ¥336,000.
C) ¥504,000.
D) ¥241,920.