The price of a concrete pump purchased by Dolan Pumping was $42,500. It cost $1,200 for delivery. The salvage value at the end of 7 years is $7,200. Using the 150% declining-balance depreciation method, calculate the book value at the end of year 2. (Round the declining-balance rate to 4 decimal places, and all dollar amounts to the nearest cent)
A) $26,977.08
B) $28,674.66
C) $24,626.48
D) $27,572.44
A
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