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On January 1, 2015, a company bought a machine for $120,000. The machine has a useful life of 5 years and a salvage value of

On January 1, 2015, a company bought a machine for $120,000. The machine has a useful life of 5 years and a salvage value of $20,000. The company used the double declining balance method of depreciation. What is depreciation for2016?

a. $40,000

b. $28,800

c. $48,000

d. $24,000

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