QUESTION 23 Jones Company bought a Drill Press on January 1, 2015 to use in production of Aluminum fishing boats. The press cost $5,000; has a useful life of 8 years and 100,000 boats; a salvage value of $1,000. In year four, 10,000 boats were produced. Depreciation is recorded annually on December 31. 1. What is the balance in accumulated depreciation at the end of year two under double declining balance method? rounded to nearest dollar a. 2,188 b. 2,000 c. 1000 d. 500 e. none of the above