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The cost of an asset is $1,190,000, and its residual value is $130,000. Estimated useful life of the asset is five years. Calculate depreciation

The cost of an asset is $1,190,000, and its residual value is $130,000. Estimated useful life of the asset is five years. Calculate depreciation for the first year using the double-declining-balance method of depreciation. A. $478,000 B. $212,000 OC. $424,000 OD. $238,000

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