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Explain the double-declining balance method

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Question: Kansas Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $7,650 at the end of ten years. Using the double-declining balance method, depreciation expense for 2021 would be: (Do not round your intermediate calculations)

Reference no: EM132716622

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