What would be the depreciation expense for knapp corp

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Reference no: EM132812378

Problem 1: On January 1, 2019, Knapp Corporation acquired machinery at a cost of $1,250,000. Knapp adopted the double-declining balance method of depreciation for this machinery and had been recording depreciation over an estimated useful life of ten years, with no residual value. At the beginning of 2022, a decision was made to change to the straight-line method of depreciation for the machinery and extend the useful life by three years. The depreciation expense for 2022 would be

A. $64,000
B. $91,429
C. $125,000
D. $178,570

Reference no: EM132812378

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