Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $83,600 has an estimated residual value of $5,000 and an estimated useful life of four years. Determine the following. (a) The double-declining-balance rate (b) The double-declining-balance depreciation for the first year %

SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
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Double-Declining-Balance Depreciation
A building acquired at the beginning of the year at a cost of $83,600 has an estimated residual value of $5,000 and an estimated useful life of four years. Determine the following.
(a) The double-declining-balance rate
(b) The double-declining-balance depreciation for the first year
%
Transcribed Image Text:Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $83,600 has an estimated residual value of $5,000 and an estimated useful life of four years. Determine the following. (a) The double-declining-balance rate (b) The double-declining-balance depreciation for the first year %
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