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What depreciation expense using double-declining method

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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.

Problem 1: Using the double-declining balance method, depreciation expense for 2021 would be: (Do not round your intermediate calculations)

Multiple Choice

Option 1: $15,600.

Option 2: $7,800.

Option 3: $7,950.

Option 4: $14,070.

Reference no: EM132688921

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