8. Long Lived Assets
Depreciation: Declining Balance
Multiple Choice
Multiple ChoiceXYZ Company purchased a machine on January 1, 2018 for $120,000. The company estimated a four year useful life and $4,000 residual value. If the company uses the double-declining-balance method for depreciation, what will be the amount of depreciation expense for the year 2021?
A
$7,500
B
$11,000
C
$15,000
D
None of the above
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