On January 2,2019,Saminski,Inc. ,acquired equipment for $200,000.The estimated life of the equipment is 5 years.The estimated residual value is $40,000.What is the Accumulated Depreciation of the equipment on December 31,2020,if Saminski uses the double-declining-balance method of depreciation? (Round intermediary calculations to two decimal places and your final answer to the nearest dollar. )

Question

Quizplus · Accepted Answer

$200,000 × 40% = $80,000
($200,000 - $80,000)× 40% = $48,000
$80,000 + $48,000 = $128,000