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Ponderosa Farms purchased equipment on January 1, 2020 for $12,600. The equipment has an estimated useful life of 10 years and an estimated residual value

Ponderosa Farms purchased equipment on January 1, 2020 for $12,600. The equipment has an estimated useful life of 10 years and an estimated residual value of $1,200. The company uses double-declining-balance depreciation. Depreciation expense for 2020 would be

a) $1,140

b) $1,260

c) $2,280

d) $2,520

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