The Cost of an Asset Is $1,110,000,and Its Residual Value

Multiple Choice

The cost of an asset is $1,110,000,and its residual value is $110,000.Estimated useful life of the asset is eight years.Calculate depreciation for the second year using the double-declining-balance method of depreciation.(Do not round any intermediate calculations,and round your final answer to the nearest dollar.)

A) $138,750
B) $125,000
C) $250,000
D) $208,125