Homework Answers
Annual depreciation rate as per straight line method=100%/5=20%/year
Hence depreciation as per double decline=2*Annual depreciation rate as per straight line method*Beginning value of each period
| Year | Beginning value | Depreciation | Ending value |
| 1 | 24,000 | (2*20%*24,000)=9600 | (24000-9600)=14400 |
| 2 | 14400 | (2*20%*14400)=$5760 |
Hence depreciation for 2nd year=$5760
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