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A company purchased equipment costing $66,000 on January 2. The estimated useful life is 8 years. After 8 years, the company's accountant estimated the equipment
A company purchased equipment costing $66,000 on January 2. The estimated useful life is 8 years. After 8 years, the company's accountant estimated the equipment could be sold for $2,000. Assuming double-declining depreciation (DDB), what is the annual depreciation expense for year 2? Question options:
$12,000
$16,500
$12,375
$16,000
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