Question 15

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On January 1, 2019, Sabrina Company acquired equipment for $480,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $80,000. What is the amount of depreciation expense for 2020, if the company uses the double-declining-balance method of depreciation?

Select one:

A. $ 69,120

B. $ 57,600

C. $103,680

D. $115,200