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machinery was purchased on january 1 for $84,280.00. the machinery has an estimated life of seven years and an estimated salvage value of $9,000. double-declining-balance depreciation for the second year would be (round calculations to the nearest dollar): a.$18,200 b.$17,200 c.$16,200 d.$16,700

Respuesta :

Double-declining-balance depreciation for the second year would be $17,200

Cost=$84,280

Estimated life=7 years

Depreciation under double declining balance method=((cost-accumulated depreciation)/useful life)*2

Depreciation in the first year=((84280-0)/7)*2=$24,080

Depreciation in the second year=((84280-24080)/7)*2=$17,200

The answer is $17,200

Correct Option is B.

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