Multiple Choice
On January 1, a machine with a useful life of five years and a residual value of $40,000 was purchased for $120,000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation?
A) $28,800.
B) $48,000.
C) $38,400.
D) $23,040.
Correct Answer:
Verified
Correct Answer:
Verified
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