Durham Company purchased a new van for floral deliveries on January 1, 2019. The van cost $84,000 with an estimated life of 5 years and $10,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used.
What is the balance of the Accumulated Depreciation account at the end of 2020?
A) $33,600
B) $20,160
C) $16,800
D) $53,760
Correct Answer:
Verified
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