P Flag question A company purchased office equipment for $240,000 and estimated a residual value of $40,000 at the end of its 5-year useful life, if the double-declining-balance method is used, the amount to be recorded as depreciation expense at December 31, 2017 is Select one: Ca. 40,000. b. 96,000. c. 80,000 d. 48,000. Next page Previous page the answer of assignment 5 Jump to... Farr Company purchased a new van for floral deliveries on January 1, 2017, the van cost 56,000 with an estimated life of 5 years and 14,000 residual value at the end of its useful life, the double-declining-balance method of depreciation will be used, what is the balance of the Accumulated Depreciation account at the end of 2017? Select one: a. 26,880 b. 42,000 c. 22,400 d. 8,400