Rio Grande Company purchased equipment on January 1, 2017 for $75,000. The estimated useful life of the equipment is 5 years, the salvage value is $10,000, and the company uses the double-declining balance method to depreciate fixed assets. How much depreciation would Rio Grande record for the fourth year of the equipment's use?

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The Answer of Rio Grande Company purchased equipment on January 1, 2017 for $75,000. The estimated useful life of the equipment is 5 years, the salvage value is $10,000, and the company uses the double-declining balance method to depreciate fixed assets. How much depreciation would Rio Grande record for the fourth year of the equipment's use?

Rio Grande Company Purchased Equipment on January 1, 2017 for $75,000