A machine was purchased on January 1 for $50,000. The machine has an estimated useful life of 10 years with a salvage value of $2,000. Under the double-declining-balance, depreciation expense for each of the first two years is, respectively,
A) $12,000 and $12,000.
B) $10,000 and $8,000.
C) $12,000 and $9,500.
D) $12,500 and $12,500.
Correct Answer:
Verified
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