Multiple Choice
Beynon Corp. purchased office equipment for $20,000, with an estimated residual value of $4,000 at the end of its 8-year useful life. Assuming the double diminishing-balance method is used, the constant percentage to be applied against the carrying amount each year is
A) 10%.
B) 12.5%.
C) 25%.
D) not determinable.
Correct Answer:
Verified
Correct Answer:
Verified
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