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MrMuchimi
3 years ago
8

Jasmine Company purchased a depreciable asset for $225,000. The estimated salvage value is $15,000, and the estimated useful lif

e is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset
Business
1 answer:
ICE Princess25 [194]3 years ago
8 0

Answer:

$225,000 × [(1 ÷ 8) × 2] = $56,250 ($225,000 - $56,250) × [(1 ÷ 8) × 2] = $42,188 is the correct answer.

Explanation:

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