Equipment is purchased for $40,000.It has an eight-year useful life and a $21,375 residual value.Under the double-declining-balance method,what is the depreciation expense for year 3?
A)$875
B)$1,125
C)$1,375
D)$5,625

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The Answer of Equipment is purchased for $40,000.It has an eight-year useful life and a $21,375 residual value.Under the double-declining-balance method,what is the depreciation expense for year 3?
A)$875
B)$1,125
C)$1,375
D)$5,625

Equipment Is Purchased for $40,000