Multiple Choice
Moped, Inc. purchased machinery at a cost of $22,000 on January 1, 2014. The expected useful life is 5 years and the asset is expected to have salvage value of $2,000. Moped depreciates its assets using the double-declining balance method. What is the accumulated depreciation for this asset on December 31, 2015?
A) $4,400
B) $5,280
C) $8,800
D) $14,080
Correct Answer:
Verified
Correct Answer:
Verified
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