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On January 1, 2019 the company purchased a ship for $1,000,000. It has a 10-year useful life and a residual value of $100,000. The company

On January 1, 2019 the company purchased a ship for $1,000,000. It has a 10-year useful life and a residual value of $100,000. The company uses the double-declining-balance method. Refer to Fantasy Cruise Lines. What is the depreciation expense for the year ended December 31, 2020?

a.$-0-

b.$160,000

c.$180,000

d.$200,000

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