Equipment is purchased for $80,000. It has an 8 year useful life and $39000 residual value. Under the doubl-declining-balance method, what is the depreciation expense for year 3?
a. 6,000
b. 48,000
c. 11,250
d. 8,436
I keep coming up with 11250 but according to the teacher the answer is 6,000. I can't figure out what I'm doing wrong.
Thanks