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A piece of equipment was purchased for $30,000. It has a useful life of 5 years, and a residual value of $4,000. Compute the depreciation

A piece of equipment was purchased for $30,000. It has a useful life of 5 years, and a residual value of $4,000. Compute the depreciation expense for the second year using the double-declining-balance method.

a. $5,200

b. $6,000

c. $6,240

d. $7,200

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