Question: Using the double-declining balance method, calculate the annual depreciation expense that will be recorded each year for an asset that cost $23,000, has a useful

Using the double-declining balance method, calculate the annual depreciation expense that will be recorded each year for an asset that cost $23,000, has a useful life of eight years, and has an estimated salvage value of $3,500. Explain what accounting issue arises, if any, in the seventh and eighth years.

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