On September 25, 2017, Panther Corp.purchased machinery for $336,000.Residual value was estimated to be $15,000.The machinery will be depreciated over eight years using the double declining-balance method.If depreciation is calculated on the basis of the nearest full month, Panther should record depreciation expense for calendar 2018 on this machinery of

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The double-declining-balance method results in a constant depreciation rate over the asset's life. The depreciation rate for this asset is 25% (2 x 12.5% straight-line rate). The depreciation expense for calendar 2018 is $78,750 ($336,000 x 25%).