(Answered) Problemon january 1 2013 dexter corporation purchased a

Accounting

Problem

On January 1, 2013, Dexter Corporation purchased a piece of equipment, which is being depreciated on a double declining balance basis over a useful life of 5 years, with a residual value of $20,000. The equipment's accumulated depreciation account has a credit balance of $96,000 and an adjusted credit balance of $117,600 on January 1, 2015 and December 31, 2015, respectively. The original cost of the equipment is:

a)None of the other alternatives are correct
b)$148,000
c)$170,000
d)$128,000
e)$150,000.

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