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Cutter Enterprises purchased equipment for $54,000 on January 1, 2016. The equipment is expected to...

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Question

Accounting

Cutter Enterprises purchased equipment for $54,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $3,900.
Using the double-declining balance method, depreciation for 2017 would be:

Multiple Choice

  • $21,600.

  • None of these answer choices are correct.

  • $12,024.

  • $12,960.

Answer & Explanation Solved by verified expert
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