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Schager Company purchased a computer system at a cost of $30,000. The estimated useful life is 7 years, and the estimated residual value is $10,000.

Schager Company purchased a computer system at a cost of $30,000. The estimated useful life is 7 years, and the estimated residual value is $10,000. Assuming the company will use the double-declining-balance method, what is the depreciation expense for the second year? (Please show work)

A $8,372 B $7,622 C $8,571 D $6,122

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