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ABC Corp purchased $60,000 in equipment on January 1, 2015 with a 5 year useful life and $10,000 salvage value. Using the double declining balance depreciation method, the depreciation expense for the year ending December 31, 2016 is $14,400. The double declining balance method recognizes most depreciation in early years by applying twice the straight-line rate to the book value each year. For year 1, depreciation was $24,000 and for year 2 it was $14,400.
- Author
- vera llanto
- Language
- EN