The cost of an asset is $1,090,000​, and its residual value is $240,000. Estimated useful life of the asset is eighteight years. Calculate depreciation for the first year using the doubleminus−decliningminus−balance method of depreciation.​ (Do not round any intermediate​ calculations, and round your final answer to the nearest​ dollar.)   A. $106,250   B. $272,500   C. $136,250   D. $ 212,500

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The cost of an asset is
$1,090,000​,
and its residual value is
$240,000.
Estimated useful life of the asset is
eighteight
years. Calculate depreciation for the first year using the
doubleminus−decliningminus−balance
method of depreciation.​ (Do not round any intermediate​ calculations, and round your final answer to the nearest​ dollar.)
 
A.
$106,250
 
B.
$272,500
 
C.
$136,250
 
D.
$ 212,500
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