Question 45

Waterway Industries purchased machinery that was installed and ready for use on January 3, 2020, at a total cost of $245000. Salvage value was estimated at $32000. The machinery will be depreciated over five years using the double-declining balance method. For the year 2021, Waterway should record depreciation expense on this machinery of

$63920.

$98000.

$51120.

$58800.