On January 1, a machine with a useful life of five years and a residual value of $40,000 was

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On January 1, a machine with a useful life of five years and a residual value of $40,000 was purchased for $120,000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation?

 

$48,000.

 

$23,040.

 

$38,400.

 

$28,800.
 
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