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Calculate depreciation for first year using double-declining

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Question 1: The cost of an asset is $ 1,180,000 and its residual value is $130,000. Estimated useful life of the asset is eight years. Calculate depreciation for the first year using the double-declining -balance method of depreciation.? (Do not round any intermediate? calculations, and round your final answer to the nearest? dollar.)

Choices are:

Option 1: 147,500

Option 2: 131,250

Option 3: 262,500

Option 4: 295,000

Reference no: EM132578855

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