Mohr company purchases a machine at the beginning of the year at a cost of $24,000. the machine is depreciated using the double-declining-balance method. the machine’s useful life is estimated to be 5 years with a $4,000 salvage value. depreciation expense in year 2 is:

Depreciation base = Cost of machine - Salvage value = 24000-4000 = $20,000
Yearly depreciation expense = Depreciation cost/ Life = 20,000/5 = $4,000
Straight line rate of depreciation = 4,000/20,000 = 0.2 = 20%
Double-declining-balance method rate = 20*2 = 40% = 0.4

Year 1 depreciation expense = 24000*0.4 = $9,600
Year 2 depreciation expense = (24000-9600)*0.4 = $5,760

Therefore, depreciation expense for year 2 is $5,760

Definitely