The original value of a piece of equipment is $24,000, completely installed and ready for use. Its salvage value is estimated to be $4000 at the end of a service life estimated to be 10 years. Determine the asset (or book) value of the equipment at the end of 5 years using Double declining-balance.

B/ The original value of a piece of equipment is $24,000, completely installed and ready for use. Its salvage value is estimated to be $4000 at the end of a service life estimated to be 10 years. Determine the asset (or book) value of the equipment at the end of 5 years using Double declining-balance