Lunar Products purchased a computer for $13,000 on July 1, 2016. The company intends to depreciate it over 4 years using the double-declining balance method. Residual value is $1,000. What is depreciation for 2017?
A. $3,000
B. $3,250
C. $4,500
D. $4,875
Answer:D
Lunar Products purchased a computer for $13,000 on July 1, 2016. The company intends to depreciate it over 4 years using the double-declining balance method. Residual value is $1,000. What is depreciation for 2017?
A. $3,000 B. $3,250 C. $4,500 D. $4,875