a piece of equipment was acquired on january 1, 2021, at a cost of $25,000, with an estimated residual value of $5,000 and an estimated useful life of five years. the company uses the double-declining-balance method. what is its book value at december 31, 2022?

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01-12-2022
Business

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a piece of equipment was acquired on january 1, 2021, at a cost of $25,000, with an estimated residual value of $5,000 and an estimated useful life of five years. the company uses the double-declining-balance method. what is its book value at december 31, 2022?

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