Question: Lulu Inc. uses double declining depreciation method. It acquired a machine at $5,000 on January 1, 2010. The estimated useful life is 5 years and

Lulu Inc. uses double declining depreciation method. It acquired a machine at $5,000 on January 1, 2010. The estimated useful life is 5 years and the salvage value is $500. What is the book value of this machine on Dec 31, 2010, after the first year's depreciation?

Question 25 options:

$4,000

$3,200

$2,000

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Id probably just get more upset. Its bett er to just drop it.