Mink Inc. purchased machinery that was installed and ready for use on January 3, 2017, at a total cost of $230,000. Residual value was estimated at $30,000. The machinery will be depreciated over five years using the double declining-balance method. For the calendar year 2018, Mink should record depreciation expense on this machinery of 

a) $48,000. 

b) $55,200. 

c) $60,000. 

d) $92,000.

Answer rating: 100% (QA)

Double declining Balance depreciation 2 Straightline depreciation ra... View the full answer