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XYZ Company purchased a new machine on January 1, 2023 for $320,000. The machine had an 8-year life and a $5,000 salvage value assigned to

XYZ Company purchased a new machine on January 1, 2023 for $320,000. The

machine had an 8-year life and a $5,000 salvage value assigned to it.

Calculate the book value of the machine at December 31, 2026 assuming the

company will depreciate the machine using the double-declining balance

depreciation method.

I said the answer is 218750.0000 is this correct?

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