Foyle Company Purchased a New Van for Floral Deliveries on January

Multiple Choice

Foyle Company purchased a new van for floral deliveries on January 1, 2014. The van cost $48,000 with an estimated life of 5 years and $12,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2014?

A) $9,600.
B) $7,200.
C) $14,400.
D) $19,200.