Legislate Company purchased equipment for $80,000 on January 1, 2017, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 5-year life and a $4,000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2019 will be:   Group of answer choices $11,520 $18,240 $10,944 $19,200

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
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Legislate Company purchased equipment for $80,000 on January 1, 2017, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 5-year life and a $4,000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2019 will be:

 

Group of answer choices
$11,520
$18,240
$10,944
$19,200
 
 
 
 

 

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