A plant asset has a cost of $24,000 and a residual value of $6,000. The asset has a threeyear life.
If depreciation in the third year amounted to $3,000, which depreciation method was used?
a. Straight-line
b. Declining-balance
c. Sum-of-the-years'-digits
d. Cannot tell from information given
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Home » Business » A plant asset has a cost of $24,000 and a residual value of $6,000. The asset has a threeyear life. If depreciation in the third year amounted to $3,000, which depreciation method was used? a. Straight-line b. Declining-balance c.