Pebble Beach Co. buys a piece of equipment for $24,000. The equipment has a useful life of ten years. No residual value is expected at the end of the useful life. Using the double-declining-balance method, what is the company's depreciation expense in the first year of the equipment's useful life?
A. $12,000
B. $2,400
C. $6,000
D. $4,800
Answer: D
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