On January 1,2016 Missouri Co.purchased a truck that cost $57,000.The truck had an expected useful life of 10 years and a $6,000 salvage value.The amount of depreciation expense recognized in 2017 assuming that Missouri uses the double declining-balance method is:

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The double-declining-balance method multiplies the book value of the asset by a rate that is twice the straight-line rate. The straight-line rate is calculated by dividing 100% by the useful life of the asset. In this case, the useful life is 10 years, so the straight-line rate is 10%. The double-declining-balance rate is therefore 20%.The book value of the asset at the beginning of 2017 is $57,000. The depreciation expense for 2017 is therefore $57,000 x 20% = $11,400.