Problem:
Thompson Corp., a calendar year-end company, purchased equipment on 1/1/X1 with the following attributes: Description Amount Cost $ 25,000 Salvage Value $ 2,300 Useful life 4 years Question: Assuming that Thompson uses the double-declining balance (DDB) depreciation method, how much depreciation expense should be recorded in 20X4 (year four of the asset's life)? Do not include decimals or cents in the numerical response.