Multiple Choice
On January 1,2018,Lamar,Inc.purchased equipment for $250,000.It has an estimated useful life of five years,and its residual value is $25,000.If it uses the double declining balance method,what is the amount of accumulated depreciation as of December 31,2019?
A) $90,000
B) $100,000
C) $160,000
D) $200,000
Correct Answer:
Verified
Correct Answer:
Verified
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