Question

Equipment is purchased for $80,000. It has an 8 year useful life and a $39000 residual value. Under the double-declining-balance method, what is the depreciation for year 3?

a. 6,000
b. 48,000
c. 11,250
d. 8436

I answered C. The teacher said it's a. 6,000. I have no idea what I'm doing wrong.

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