Gregory Company purchased equipment on August 1, Year 1, at a cost of $117,900. The asset is expected to have a service life of 5 years, and its working hours estimated at 21,000 hours and a salvage value of $12,900. The Company’s year end is December 31.

Compute the amount of depreciation for Year 2 only using the double-declining balance method. (In performing your calculations, round constant percentage to the nearest one-hundredth of a point and round answers to the nearest dollar.)

Answer rating: 100% (QA)

Double Declining balance nethod 2 Staright Line rate Straight line rate 1 Useful Life Stra... View the full answer