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DEPRECIATION: Company L purchased equipment for 150,000 on 1/1/2020. The equipment has a useful life of 5 years and a residual value of 30,000 and

DEPRECIATION: Company L purchased equipment for 150,000 on 1/1/2020. The equipment has a useful life of 5 years and a residual value of 30,000 and accumulated depreciation of 60000 at 12/31/20. . Using the double declining balance method of depreciation, what is the amount of depreciation expense for 2021?

a. 36000

b. 30000

c. 18,000

d. 12000

e. None of the above

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