Gary Kraen Company purchased equipment on May 1,2019 for $800,000.The residual value is $10,000 and the estimated useful life is 10 years.What is the Depreciation Expense for the year ending December 31,2020,if the company uses the double-declining-balance method? (Round your final answer to the nearest dollar. )
A) $106,667
B) $80,000
C) $138,667
D) $79,000
Correct Answer:
Verified
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