Marco Corporation purchased equipment costing $300,000 on September 1, 2014. The equipment has an estimated useful life of nine (9) years with an estimated salvage of $10,000. Marco has a December 31 year-end. Calculate the following, showing all of your computations well-labeled and in good form under the following scenario.
The equipment is depreciated using the Double Declining-Balance Method
1a) Calculate the depreciation expense for 2016 using the above data
1b) Calculate the book value on the machine at December, 31, 2016.