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Equipment cost $15,000 and has a $1,000 residual value and an expected useful life of four years. What is the depreciation expense in Year 4

Equipment cost $15,000 and has a $1,000 residual value and an expected useful life of four years. What is the depreciation expense in Year 4 using the Double-Declining-Balance Method at the straight-line rate?

Multiple Choice

$700

$937.50

$875

None of the other alternatives are correct

$1,000

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