Kansas Enterprises purchased equipment for $79,500 on January 1, 2018. The equipment is expected to have a ten-year life, with a residual value of \$8,850 at the end of ten years.
Using the double-declining balance method, the book value at December 31, 2019 would be (Do not round your intermediate calculations):
Multiple Choice
\$7,950.
\$61,360.
\$58,960.
\$50,880.