Please solve and walk through your explanation. The text book formula informs me to take 100% divided by the number of useful year, multiply by 2. Multiply that answer by the total cost and you get the 1st year of depreciation, however the formula is incorrect as Cengage homework declare this answer to be wrong.

Homework Assignment # 10 Calculator Print Item 1. FA.EA. 11.03.ALGO Alfredo Company purchased a new 3-D printer for $810,000. Although this printer is expected to last for ten years, Alfredo knows the technology will become old quickly, and so they plan to replace this printer in three years. At that point, Alfredo believes it will be able to sell the printer for $20,000. Calculate yearly depreciation using the double-declining-balance method. Round final answers to nearest whole dollar amount. 2. FA.EA. 11.04.ALGO Year 1 $ X 3. FA.EA. 11.06.ALGO Year 2 $ 4. FA.EA. 11.07.ALGO Year 3 $ 5. FA.EA. 11.08.ALGO Feedback 6. FA.PA. 11.01.ALGO Check My Work 7. FA.PA. 11.12.ALGO The double-declining balance uses 'double' the straight-line rate for depreciation. The 'base' that is used to apply that rate is the book value of the asset (determined by subtracting the balance in the accumulated depreciation account from the original cost of the asset). Previous Check My Work Next Progress: 4/7 items Homework Assignment # 10 Calculator Print Item 1. FA.EA. 11.03.ALGO Alfredo Company purchased a new 3-D printer for $810,000. Although this printer is expected to last for ten years, Alfredo knows the technology will become old quickly, and so they plan to replace this printer in three years. At that point, Alfredo believes it will be able to sell the printer for $20,000. Calculate yearly depreciation using the double-declining-balance method. Round final answers to nearest whole dollar amount. 2. FA.EA. 11.04.ALGO Year 1 $ X 3. FA.EA. 11.06.ALGO Year 2 $ 4. FA.EA. 11.07.ALGO Year 3 $ 5. FA.EA. 11.08.ALGO Feedback 6. FA.PA. 11.01.ALGO Check My Work 7. FA.PA. 11.12.ALGO The double-declining balance uses 'double' the straight-line rate for depreciation. The 'base' that is used to apply that rate is the book value of the asset (determined by subtracting the balance in the accumulated depreciation account from the original cost of the asset). Previous Check My Work Next Progress: 4/7 items