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A company purchased furniture on January 1. Its cost was $15,600, and it had a residual value of $2,000. Its useful life is determined to
A company purchased furniture on January 1. Its cost was $15,600, and it had a residual value of $2,000. Its useful life is determined to be 5 years. Using
doubleminusdeclining
balance depreciation, the depreciation for year 1 to the nearest dollar will be:
A.
$6,240.
B.
$2,720.
C.
$3,120.
D.
$5,440.
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