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What amount should be shown in leopard balance sheet

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Question - On January 1, 2017, Leopard Corp. purchased a new machine for $700,000. The new machine has an estimated useful life of nine years and the residual value was estimated to be $50,000. Depreciation was calculated using the double declining-balance method. To the nearest dollar, what amount should be shown in Leopard's balance sheet at December 31, 2018, net of accumulated depreciation, for this machine?

a. $550,000

b. $445,000

c. $427,778

d. $423,457

Reference no: EM132806054

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