16)

16. Warren Company plans to depreciate a new building using the double declini balance depreciation method. The building cost $800,000. The estimated residual value of the building is $50,000 and it has an expected useful life of 25 years Assuming the first year's depreciation expense was recorded property, what would be the amount of depreciation expense for the second year? a. $30,720 b. $32,000 C. $58,880 d. $64,000