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Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $70,800 has an estimatedresidual valueof $5,000 and an estimated useful

Double-Declining-Balance Depreciation

A building acquired at the beginning of the year at a cost of $70,800 has an estimatedresidual valueof $5,000 and an estimated useful life of 4 years. Determine the following.

(a)The double-declining-balance rate%(b)The double-declining-balance depreciation for the first year$

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