On January 1, 2018, Beast Company Acquired Equipment for $360,000

Multiple Choice

On January 1, 2018, Beast Company acquired equipment for $360,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $60,000.
What is the amount of depreciation expense for 2020, if the company uses the double-declining-balance method of depreciation?

A) $77,760
B) $51,840
C) $43,200
D) $86,400