Exhibit 11-1 On January 1, Year 1, Hills purchased equipment for $350,000. The equipment had an estimated useful life of ten years and an estimated residual value of $50,000. Use the double-declining-balance method to answer the following question(s). ? ? Refer to Exhibit 11-1. How much depreciation should Hills record on the asset in year 1?
A) $35,000
B) $30,600
C) $60,000
D) $70,000
D
Business
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