A machine is purchased on January 1, 2018, for $102,000. It is expected to have a useful life of eight years and a residual value of $11,000. The company closes its books on December 31. Under the double-declining balance method, what is the total amount of depreciation to be expensed during the 2019

Depreciation expense 2019= $17,062.5

Explanation:

Giving the following information:

Purchase price= 102,000

Useful life= 8

Salvage value= 11,000

To calculate the depreciation expense under the double-declining balance, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

2018= 2*[(102,000 - 11,000)/8]= $22,750

2019= 2*[(91,000 - 22,750)/8]= $17,062.5

answer; /// the use of a bank credit card to make purchase;

answer the law of increasing costs;