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6-A company purchased furniture on January 1. Its cost was $20,000 and it had a residual value of $2,400. Its useful life is determined to
6-A company purchased furniture on January 1. Its cost was $20,000 and it had a residual value of $2,400. Its useful life is determined to be 55 years. Using?double-declining balance?depreciation, the depreciation for year 1 to the nearest dollar will?be
A.
$4,000.
B.
$8,000.
C.
$3,520.
D.
$7,040.
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