Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $97,200 has an estimated residual value of $7,800 and an estimated useful life of 4 years. Determine the following. (a) The double-declining-balance rate   % (b) The double-declining-balance depreciation for the first year $

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Double-Declining-Balance Depreciation

A building acquired at the beginning of the year at a cost of $97,200 has an estimated residual value of $7,800 and an estimated useful life of 4 years. Determine the following.

(a) The double-declining-balance rate   %
(b) The double-declining-balance depreciation for the first year $  
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