Kansas Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have a five-year life, with a residual value of $5,000 at the end of five years.Using the double-declining balance method, the book value at December 31, 2022, would be:
A. $45,600.
B. $36,000.
C. $24,800.
D. $21,600.
Answer: D
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