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The cost of an asset is $1,110,000, and its residual value is $240,000. Estimated useful life of the asset is five years. Calculate depreciation

The cost of an asset is $1,110,000, and its residual value is $240,000. Estimated useful life of the asset is five years. Calculate depreciation for the first year using the double-declining - balance method of depreciation. OA. $348,000 OB. $174,000 C. $444,000 OD. $222,000

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