Expedient corporation has a fixed asset with a useful life, Financial Accounting

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Expedient corporation has a fixed asset with a useful life

Expedient Corporation has a fixed asset with a useful life of 10 years. The original cost was $86,000 and the residual value is $8,000. What is the first year depreciation of the asset assuming the company uses double declining balance to calculate depreciation and the asset was purchased and put into service April 1? Choose one answer. a. $17,200 b. $15,600 c. $12,900 d. $11,700

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Financial Accounting: Expedient corporation has a fixed asset with a useful life

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