Koffman's Warehouse purchased a forklift on January 1, 2012, for $260,000. The forklift is expected to last for five years and have a residual value of $20,000. Koffman's uses the double-declining-balance method for depreciation.

Calculate the depreciation expense, accumulated depreciation, and book value for each year of the forklift's life. If necessary, round any depreciation calculations to the nearest dollar.

2012

2013

2014

2015

2016

Koffman's Warehouse purchased a forklift on January 1, 2012, for $260,000. The forklift is expected to last for five years and have a residual value of $20,000. Koffman's uses the double-declining-balance method for depreciation. Calculate the depreciation expense, accumulated depreciation, and book value for each year of the forklift's life. If necessary, round any depreciation calculations to the nearest dollar. 2012 2013 2014 2015 2016