Chang Company purchased a piece of equipment on January 1, 2017. The equipment cost HK$600,000 and has an estimated life of 8 years and a residual value of HK$80,000. What was the depreciation expense for the asset for 2018 under the double-declining balance method?

(a) HK$65,000.

(b) HK$112,500.

(c) HK$150,000.

(d) HK$65,620.

Answer rating: 100% (QA)

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