Multiple Choice
Cost of an asset is $1,070,000 and its residual value is $220,000.Estimated useful life of the asset is five years.Calculate depreciation for the first year using the reducing-balance method of depreciation.
A) $340,000
B) $214,000
C) $428,000
D) $170,000
Correct Answer:
Verified
Correct Answer:
Verified
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