An equipment was purchased for $15,000. It has a useful life of 5 years and a residual value of $4,000. Determine the depreciation expense for the first year using the double- declining-balance...

Extracted text: An equipment was purchased for $15,000. It has a useful life of 5 years and a residual value of $4,000. Determine the depreciation expense for the first year using the double- declining-balance method? Oa. $6,000 Оb. 52,200 Oc. $5,400 Od. S2,600