Use the following data: $$\begin{array} { l c }
\text { Asset cost } & \$ 80,000 \
\text { Expected life } & 3 \text { years } \
\text { Estimated salvage value } & \$ 7,000
\end{array}$$ Using the declining-balance method, the amount of depreciation for the first year would be
A) $26,666.67.
B) $24,333.33.
C) $53,333.33.
D) $48,666.67.

Question

Use the following data: $$\begin{array} { l c } 
\text { Asset cost } & \$ 80,000 \
\text { Expected life } & 3 \text { years } \
\text { Estimated salvage value } & \$ 7,000
\end{array}$$ Using the declining-balance method, the amount of depreciation for the first year would be
A) $26,666.67.
B) $24,333.33.
C) $53,333.33.
D) $48,666.67.

Quizplus · Accepted Answer

The Answer of Use the following data: $$\begin{array} { l c } 
\text { Asset cost } & \$ 80,000 \
\text { Expected life } & 3 \text { years } \
\text { Estimated salvage value } & \$ 7,000
\end{array}$$ Using the declining-balance method, the amount of depreciation for the first year would be
A) $26,666.67.
B) $24,333.33.
C) $53,333.33.
D) $48,666.67.

Use the Following Data Using the Declining-Balance Method, the Amount of Depreciation for the