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A company purchased equipment on January 1,2022 , for $900,000, estimating a five-year service life and $100,000 residual value. In 2022 and 2023 , the

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A company purchased equipment on January 1,2022 , for $900,000, estimating a five-year service life and $100,000 residual value. In 2022 and 2023 , the company depreciated the asset using the double-declining-balance method. In 2024 , the company changed to straight-line depreciation for this equipment. What depreciation would the company record for the year 2024 on this equipment? Multiple Choice $108,000 $160,000 $92,333 $74,667

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