A company purchased machinery for $10,800,000 on January 1, 2007. The machinery has a useful life of

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A company purchased machinery for $10,800,000 on January 1, 2007. The machinery has a useful life of 10 years and an estimated salvage value of $800,000. What is depreciation expense on the machinery for the year ended December 31, 2008, assuming that the double-declining-balance method is used?

a. $2,160,000

b. $3,888,000

c. $1,728,000

d. $2,000,000

e. $1,600,000

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