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Question
foyle company purchased a new van for floral deliveries on january 1, 2011. 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 balance of the accumulated depreciation account at the end of 2012?
a.$6,400
b.$19,200
c.$25,600
d.$9,600
Answer
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