Roho Company acquired equipment on July 1, 2016, for $700,000. The residual value is $20,000 and the estimated life is 5 years or 40,000 hours. Compute the depreciation expense for the years ending December 31, 2016 and December 31, 2017 if Roho Company uses the double-declining-balance method of depreciation.

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The Answer of Roho Company acquired equipment on July 1, 2016, for $700,000. The residual value is $20,000 and the estimated life is 5 years or 40,000 hours. Compute the depreciation expense for the years ending December 31, 2016 and December 31, 2017 if Roho Company uses the double-declining-balance method of depreciation.

Roho Company Acquired Equipment on July 1, 2016, for $700,000