A company purchased factory equipment for $590,000. It is estimated that the equipment will have a $59,000 salvage value at the

Question

3 years ago

12

A company purchased factory equipment for $590,000. It is estimated that the equipment will have a $59,000 salvage value at the

end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be Group of answer choices

Business

1 answer:

Rufina [12.5K] · Answer 1 · 2022-04-01T18:41:45+03:00

Rufina [12.5K]3 years ago

6 0

Answer:

($700,000 - 0) × .40 = $280,000; ($700,000 - $280,000) × .40 = $168,000 is the correct answer.

Explanation: