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What is book value at december

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Reference no: EM132881073

Problem 1: A piece of equipment was acquired on January 1, 2018, at a cost of $28,000, with an estimated residual value of $4,000 and an estimated useful life of Four years. The company uses the double-declining-balance method. What is its book value at December 31, 2019?

Option 1: $8,800
Option 2: $28,160.
Option 3: $7,040
Option 4: $21,120.

Reference no: EM132881073

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