Multiple Choice
On January 1, 2017, Grove City Corp. purchased a ship for $2,000,000. It has a ten-year useful life and a residual value of $50,000. The company uses the double-declining-balance method.
-What was the depreciation expense for Grove City Corp.for the year ended December 31,2018?
A) $0
B) $160,000
C) $320,000
D) $400,000
Correct Answer:
Verified
Correct Answer:
Verified
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