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Question: The Stacey Corporation spent $90,000 for equipment. The equipment was expected to have a 6-year life and a residual value of $12,000. The Corporation intends to use the double-declining-balance method to depreciate all its assets. Calculate the equipment depreciation expense the Corporation will record for the second year it uses the equipment.

a. $30,000

b. $20,000

c. $26,000

d. $17,333

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92574530

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