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Find the depreciation for first year using double declining

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Problem 1: Harlow Manufacturing corporation purchased a Truck on Jan. 1 of the current yr. for $80,000. The useful life was set at 5 years or 100,000 hours. The salvage value was determined to be $5,000. The Truck was used 12,000 miles in the current year. Compute the depreciation for the first year using Double Declining Balance Method.

Option 1: 15,000

Option 2: 32,000

Option 3: 30,000

Option 4: 5,000

Reference no: EM132808379

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