Homework Answers
Depreciation under Double declining balance method = (Cost - Accumulated depreciation) / Useful life * 2
Depreciation for 2020 = ($66,400 - $0) / 8 * 2 * 6 / 12 = $8,300
Depreciation for 2021 = ($66,400 - $8,300) / 8 * 2 = $14,525
The answer is $14,525
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