On January 1, 2018, Manzanita Manufacturing purchased a machine for $345,000 with an expected life of 5 years and a residual value of $37,500. In addition, the company paid delivery costs of $3,000 and $12,000 to have the machine installed. Manzanita uses the double-declining-balance method of depreciation.What is the depreciation expense for the first year using the double-declining-balance method?
A. $132,000
B. $132,500
C. $138,000
D. $144,000
Answer: D
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