Multiple Choice
Gold Star Company purchased a machine on January 1, 2019 for $120,000, with a 5-year life, and a $12,000 residual life.
Compute the book value of the machine on December 31, 2021 if the company uses the double-declining balance method of depreciation.
A) $20,000
B) $25,920
C) $21,600
D) $48,000
Correct Answer:
Verified
Correct Answer:
Verified
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