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What is the depreciation expense for the year ended

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Reference no: EM132409698

Question

On August 1, 2015, Toy Inc. purchased a new piece of equipment that cost $25000. The estimated useful life is five years and the estimated residual value is $ 2,500. During the five years of useful life the equipment is expected to produce 10,000 units.

Assume that the equipment was purchased on January 1st, 2015. If the company uses the double declining balance method of depreciation, what is the depreciation expense for the year ended December 31st, 2017.

Reference no: EM132409698

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