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Find what would the depreciation expense be

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Question 1: On July 1, 2019, Bronson Co. purchased some equipment that initially cost $52,800. Additional costs included freight costs $300, non-refundable taxes $6,400, and installation $500. Estimated residual value is $2,000. The company uses a straight-line rate of 10%. Bronson's fiscal year end is June 30. What would the depreciation expense be for 2020 if Bronson Co. used the double-declining-balance method?

Option 1: $12,200

Option 2: $12,000

Option 3: $11,600

Option 4: $ 6,000

Reference no: EM132496442

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