On January 1, a company purchased equipment for $140,000. The equipment's useful life is estimated to be 5 years with a $30,000 salvage value. What would be the depreciation expense for the second year of its useful life using the double-declining balance method? Multiple Choice $28,000. $ 33,600. $25,000. $ 22,400. $ 38,400.

On January 1, a company purchased equipment for $140,000. The equipment's useful tife is estimated to be 5 years with a $30,000 salvage value What would be the depreciation expense for the second vem of its useful life wing the double-decininn balance method? Muitsie Chaice $28.000 533600 $25,000 522.400 538400