JoyCo acquired equipment on April 1, 2022, at a cost of $90,000 and with an estimated useful
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Question:
JoyCo acquired equipment on April 1, 2022, at a cost of $90,000 and with an estimated useful life of 10 years. The machine has a residual value of $10,000. JoyCo uses the double-declining-balance method of depreciation. How much depreciation should be recorded by JoyCo for the year ended December 31, 2022?
1)8000
2)9000
3)10000
4)13500
5)12000
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