A building is acquired on January 1, at a cost of $830,000 with an estimated useful life of eight years and salvage value of $75,000. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.)

$207,500

$155,625

$116,719

Explanation:

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life) = 2/8 = 1/4

1 = $830,000 / 4 = 207,500

book value $830,000 -  207,500 = 622,500

2 =  622,500 / 4 = 155,625

book value = 622,500 - 155,625 = 466875

3 466875 / 4 = 116,718.75 = 116,719

answer; normative economics;

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