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Brian's Company purchased a Mercedes at the beginning of 2010 at a cost of $100,000. Mercedes had an estimated life of 25 years and an
Brian's Company purchased a Mercedes at the beginning of 2010 at a cost of $100,000. Mercedes had an estimated life of 25 years and an estimated residual value of $5,000. During its useful life, Mercedes is expected to run 100,000 miles. What amount should be recorded as annual depreciation expense at the end of the year 2010 if the company uses the double declining method? (round your answer to the nearest dollars)
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