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BigorU [14]
1 year ago
9

A machine with a cost of $85,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 20,000 hours. Wha

t is the amount of depreciation for the second full year, using the double-declining-balance method?
Business
1 answer:
Nataly_w [17]1 year ago
8 0

The amount of depreciation for the second full year, using the double-declining-balance method is  $20,400.

<h3>What is the amount of depreciation in the second year?</h3>

Depreciation is a method used in expensing the value of an asset.

Double declining depreciation expense = [2 x (1/useful life of the asset)] x cost of the asset

Depreciation expense in year 1 = 2/5 x $85,000 = $34,000

Book value at the beginning of year 2 = $85,000 - $34,000 = $51,000

Depreciation expense in year 2 = 2/5 x $51,000 = $20,400

To learn more about depreciation, please check: brainly.com/question/6982430

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