Equipment is purchased for $60,000.It has a five-year useful life and a $10,000 residual value.Under the double-declining-balance method,what is the depreciation expense for year 3?
A)$6,400
B)$7,200
C)$7,680
D)$8,640

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The Answer of Equipment is purchased for $60,000.It has a five-year useful life and a $10,000 residual value.Under the double-declining-balance method,what is the depreciation expense for year 3?
A)$6,400
B)$7,200
C)$7,680
D)$8,640

Equipment Is Purchased for $60,000