7.

9.

The cost of an asset is $1,160,000, and its residual value is $160,000. Estimated useful life of the asset is five years. Calculate depreciation for the first year using the double-declining - balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) O A. $464,000 O B. $400,000 OC. $200,000 OD. $232,000 Get Away Vacations signed a 12%, 10-year note for $160,000. The company paid an installment of $2,200 for the first month. What portion of the first monthly payment is interest expense? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) O A. $32,533 O B. $600 O C. $15,533 OD. $1,600