Question: The Stacey Corporation spent $90,000 for equipment. The equipment was expected to have a 6-year life and a residual value of $12,000. The Corporation intends to use the double-declining-balance method to depreciate all its assets. Calculate the equipment depreciation expense the Corporation will record for the second year it uses the equipment.
a. $30,000
b. $20,000
c. $26,000
d. $17,333