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Calculate the amounts for the car

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Luxury company purchased a new car for use in its business on January 1st 2017. It paid 27,000 for the car. Luxury expects the car to have a useful life of 4 years with an estimated residual value of 0. Luxury expects to drive the car 80,000 miles in 2017, 85,000 in 2018, 10,000 in 2019, and 5,000 in 2020. For expected total of miles 180,000.

Question 1: Using the double-declining balance method of depreciation calculate the following amounts for the car in each of the 4 years of expected life:

A. Depreciation Expense

B. Accumulated depreciation balance

C. Book Value

Reference no: EM132493106

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