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The Cerearls Company purchases equipment for $100,000. Management estimates that the equipment will have a useful life of eight years and no salvage value. Calculate
The Cerearls Company purchases equipment for $100,000. Management estimates that the equipment will have a useful life of eight years and no salvage value. Calculate depreciation expense at the end of the first year using the double-declining balance method of depreciation.
Select one:
A.
$30,000
B.
$48,000
C.
$62,500
D.
$31,250
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