(Answered) Question - on january 2 2016 mcnallys extra corporation

Accounting

Question - On January 2, 2016, McNally's Extra Corporation acquired equipment for $120,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $20,000. What is the balance in Accumulated Depreciation on December 31, 2017, if McNally's Extra Corporation uses the double-declining-balance method of depreciation?

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