Kansas Enterprises purchased equipment for $74,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $8,700 at the end of ten years.

Using the double-declining balance method, depreciation expense for 2021 would be

Multiple Choice

• $14,800.
• $13,060.
• $6,100.
• $7,400