Paulson Transport Company On January 1, 2015, Paulson Transport Company Purchased a Ship

Multiple Choice

Paulson Transport Company
On January 1, 2015, Paulson Transport Company purchased a ship for $2,000,000.It has a ten-year useful life and a residual value of $50,000.The company uses the double-declining-balance method.
-What was the depreciation expense for Paulson Transport for the year ended December 31, 2016?

A) $ -0-
B) $160,000
C) $320,000
D) $400,000