Eastern Fisheries Co. purchased equipment on January 1, 20X1 for $22,500. The equipment had an estimated useful life of 10 years and an estimated residual value of $2,500. The company uses double-declining-balance depreciation. Assuming Eastern uses straight-line depreciation, what would be the book value of the machine ten years later, on December 31 Selected Answer: Incorrect $2,350 Answers: $ -0- Correct $2,500 $2,350 $2,250