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On January 1, 2018, Lamar, Inc. purchased equipment for $250,000. It has an estimated useful life of five years, and its residual value is $25,000.

On January 1, 2018, Lamar, Inc. purchased equipment for $250,000. It has an estimated useful life of five years, and its residual value is $25,000. If it uses the double declining balance method, what is the amount of accumulated depreciation as of December 31, 2019?

Multiple Choice

  • $90,000

  • $100,000

  • $160,000

  • $200,000

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