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On May 1, 2015, Casico Toy Inc. purchased a new piece of equipment that cost...

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Accounting

On May 1, 2015, Casico Toy Inc. purchased a new piece of equipment that cost $52,000. The estimated useful life is five years and the estimated residual value is $4,000. During the five years of useful life the equipment is expected to produce 20,000 units. If the company uses the double declining balance method of depreciation, what is the depreciation expense for the year ended December 31st, 2018?

Multiple Choice

$3,250

$0

$3,000

$4,493

None of the other alternatives are correct

Answer & Explanation Solved by verified expert
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