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On September 1, 2021, Wil Company purchases equipment for $140,000 with a useful life of 8 years and a residual value of $5,000. Wil Co.

On September 1, 2021, Wil Company purchases equipment for $140,000 with a useful life of 8 years and a residual value of $5,000. Wil Co. uses the double-declining balance method. The depreciation expense for 2021 is

a - $10,000

b - $20,000

c - $23,333

d - $11,667

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