Question: On January 1 2005 the company purchased equipment for 100 000 The
On January 1, 2005, the company purchased equipment for $100,000. The equipment has a 10-year expected useful life and $0 residual value. Initially, the company used straight-line depreciation. On January 1, 2008, the company changed to double-declining-balance depreciation. Compute depreciation expense for 2008. Ignore income taxes.
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