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Question
foyle company purchased a new van for floral deliveries on january 1, 2012. the van cost $40,000 with an estimated life of 5 years and $10,000 salvage value at the end of its useful life. the double-declining-balance method of depreciation will be used. what is the depreciation expense for 2012?
a.$8,000
b.$6,000
c.$12,000
d.$16,000
Answer
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