On January 1,2011,Caravanos Company Purchased for $320,000 a Machine with a Useful

Multiple Choice

On January 1,2011,Caravanos Company purchased for $320,000 a machine with a useful life of ten years and no salvage value.The machine was depreciated by the double-declining-balance method,and the carrying amount of the machine was $204,800 on December 31,2012.Caravanos changed to the straight-line method on January 1,2013.Caravanos can justify the change.What should be the depreciation expense on this machine for the year ended December 31,2014?

A) $20,480
B) 25,600
C) 32,000
D) 52,480