Jefferson Company purchased a piece of equipment

on January 1, 2019. The equipment cost $60,000 and

has an estimated life of 8 years and a salvage value of

$8,000. What was the depreciation expense for the

asset for 2020 under the double-declining-balance

method?

(a) $6,500.

(b) $11,250.

(c) $15,000.

(d) $6,562.