A building acquired at the beginning of the year at a cost of $316,000 has an estimated

Question:

A building acquired at the beginning of the year at a cost of $316,000 has an estimated residual value of $48,000 and an estimated useful life of 40 years. Determine
(a) The depreciable cost,
(b) The double-declining-balance rate,
(c) The double-declining-balance depreciation for the first year.