On April 2, 2013, Premier Plumbing Corporation purchased machinery for $70,000. Salvage value was estimated to be $5,000. The machinery will be depreciated over ten years using the double-declining balance method. If depreciation is computed on the basis of the nearest full month, Premier should record depreciation expense on this machinery for 2014 of
This solution calculates the amount Premier should record for depreciation expense on the machinery for 2014.