Problem

On March 12, 2008, Shoreham, Inc. acquired melting equipment for $45,600.  The estimated l...

On March 12, 2008, Shoreham, Inc. acquired melting equipment for $45,600.  The estimated life of the equipment is 6 years, with an estimated residual value of $2,400.

 Refer to above data. In its financial statements, Shoreham uses double-declining-balance depreciation with half-year convention.  The book value of the equipment at December 31, 2009, will be:

a $20,267. b $12,667. c $25,333. d Some other amount.

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Solutions For Problems in Chapter 9