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An equipment was purchased for $30,000. It has a useful life of 5 years, and...

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Accounting

An equipment was purchased for $30,000. It has a useful life of 5 years, and a residual value of $4,000. Compute the depreciation expense for the second year using the double-declining-balance method.

a.$6,000

b.$5,200

c.$7,200

d.$6,240

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