On January 1,2018,Manzanita Manufacturing Purchased a Machine for $345,000 with an Expected

Multiple Choice

On January 1,2018,Manzanita Manufacturing purchased a machine for $345,000 with an expected life of 5 years and a residual value of $37,500.In addition,the company paid delivery costs of $3,000 and $12,000 to have the machine installed.Manzanita uses the double-declining-balance method of depreciation. What is the depreciation expense for the first year using the double-declining-balance method?

A) $132,000
B) $144,000
C) $132,500
D) $138,000