Peanut Company purchased a machine on January 1, 2016, for $100,000 with a $20,000 salvage value and an eight- year useful life. The company uses double-declining-balance depreciation.
Required:
Compute the depreciation expense to the nearest whole dollar) for 2016 and 2017.

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The Answer of Peanut Company purchased a machine on January 1, 2016, for $100,000 with a $20,000 salvage value and an eight- year useful life. The company uses double-declining-balance depreciation.
Required:
Compute the depreciation expense to the nearest whole dollar) for 2016 and 2017.

Peanut Company Purchased a Machine on January 1, 2016, for $100,000