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10) Lot Company Ltd. acquired equipment on June 30, 2015, for $300,000. The residual value is $20,000 and the estimated life is five years or 60,000 hours. Compute the balance in accumulated amortization as of December 31, 2016, if Lot Company Ltd. uses the double-declining-balance method of amortization. A) $108,000 B) $144,000 C) $156,000 D) $192,000 Page 6