On April 30, 2019, Macy Products Purchased Machinery for $132,000

Multiple Choice

On April 30, 2019, Macy Products purchased machinery for $132,000. The useful life of this machinery is estimated at 5 years, with a $32,000 residual value. The company uses the double-declining-balance method.
Depreciation expense for the fiscal year ending on December 31, 2020 will be:

A) $31,680
B) $36,800
C) $42,134
D) $38,720