Multiple Choice
Fantasy Cruise Lines
On January 1, 2019 the company purchased a ship for $1,000,000. It has a 10-year useful life and a residual value of $100,000. The company uses the double-declining-balance method.
-Refer to Fantasy Cruise Lines. What will be the book value of the ship at the end of its useful life?
A) $ -0-
B) $100,000
C) $200,000
D) Need more information to determine this answer.
Correct Answer:
Verified
Correct Answer:
Verified
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