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Z Company purchased an asset for $ 2 4 , 0 0 0 on January 1 , Year 1 . The asset was expected to

Z Company purchased an asset for $24,000 on January 1, Year 1. The asset was expected to have a four-year life and a $4,000 salvage value. What is the amount of depreciation expense for Year 1 using the double-declining-balance method?
Multiple Choice
$2,000
$3,000
$6,000
$12,000

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