Multiple Choice
A piece of equipment was acquired on January 1, 2010, at a cost of $22,000, with an estimated residual value of $2,000 and an estimated useful life of four years. The company uses the double-declining-balance method. What is its book value at December 31, 2011?
A) $5,500
B) $10,000
C) $11,000
D) $12,000
Correct Answer:
Verified
Correct Answer:
Verified
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