The cost of an asset is $1,160,000,and its residual value is $160,000.Estimated useful life of the asset is four years.Calculate depreciation for the first year using the double-declining-balance method of depreciation.(Do not round any intermediate calculations,and round your final answer to the nearest dollar. )
A) $500,000
B) $580,000
C) $290,000
D) $250,000
Correct Answer:
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