Hello everyone, thank you in advance to those who attempt to answer my question, truly appreciate the time and effort you are taking to help me
I just have a quick question. The question above is from CFAI end of the chapter. For question number 16, why is it that the double declining depreciation formula does not deduct the estimated residual value? I used the formula in our textbook and got B but the correct answer is C where the formula is just 600,000 x 2. Can someone explain why?
Thank you!