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At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $12.6 million. $9.6 million of the purchase price was allocated to the building. Depreciation for 2014 and 2015 was calculated using the straight-line method, a 25-year useful life, and a $1.6 million residual value. In 2016 the company switched to the double-declining-balance depreciation method. What is depreciation on the building for 2016?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91889220

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