Using the Double-Declining Balance Method The Peete Company purchased an office building for ($ 4,500,000). The building

Question:

Using the Double-Declining Balance Method The Peete Company purchased an office building for $\$ 4,500,000$. The building had an estimated useful life of 25 years and an expected salvage value of $\$ 500,000$. Calculate the depreciation expense for the second year using the double-declining balance method.

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