Seall-Test Ltd. owns a machine that it purchased on January 1, 2019 for

$600,000.

The machine had an estimated useful life of 10 years and an estimated residual value of

$100,000.

The company uses the declining balance method with a rate of 20%. The machine was sold on December 31, 2021 for

$140,000.

What was the depreciation expense for 2020?

A.

$50,000

B.

$60,000

C.

$120,000

D.