Calculate depreciation for the first year

Reference no: EM132722932

Question - The cost of an asset is $1,110,000?, and its residual value is $240,000. Estimated useful life of the asset is ten years. Calculate depreciation for the first year using the double-declining-balance method of depreciation.?

A. $174,000

B. $87,000

C. $111,000

D. $222,000

Reference no: EM132722932

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