Multiple Choice
An asset has a cost of $80 000, estimated residual value of $20 000 and estimated useful life of five years. What is the amount of the depreciation expense for the first year, assuming the reducing-balance method is used and the annual rate is 30%?
A) $12 000
B) $16 000
C) $18 000
D) $24 000
Correct Answer:
Verified
Correct Answer:
Verified
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