On January 2, 2023, Saminski, Inc., acquired equipment for
$700,000.
The estimated life of the equipment is 5 years. The estimated residual value is
$10,000.
What is the Accumulated Depreciation of the equipment on December 31, 2024, if Saminski uses the
double−declining−balance
method of depreciation? (Round intermediary calculations to two decimal places and your final answer to the nearest dollar.)
Extracted text: On January 2, 2023, Saminski, Inc., acquired equipment for $700,000. The estimated life of the equipment is 5 years. The estimated residual value is $10,000. What is the Accumulated Depreciation of the equipment on December 31, 2024, if Saminski uses the double - declining - balance method of depreciation? (Round intermediary calculations to two decimal places and your final answer to the nearest dollar.) A. $448,000 B. $168,000 C. $276,000 D. $280,000