Kansas Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $5,000 at the end of five years.Using the double-declining balance method, depreciation expense for 2022 would be:
A. $22,000.
B. $24,000.
C. $14,400.
D. $13,200.
Answer: C
Business
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