Double - Declining Balance
6. Cutter Enterprises purchased equipment for $72,000 on January 1, 2009. The equipment is expected to have a five-year life and a residual value of $6,000. Using the double-declining balance method, depreciation for 2010 would be: A. $28,800. B. $18,240. C. $17,280. D. None of these is correct.