Finance: Intangible Asset Amortization
1. A plant asset purchased for $400,000 has an estimated life of 10 years and a residual value of $20,000. Depreciation for the second year of use, determined by the declining-balance method at twice the straight-line rate is: 2. A plant asset purchased for $330,000 at the beginning of the year has an estimated life of 5 yea