11) The cost of an asset is $1,020,000, and its residual value is $160,000. Estimated useful life of the asset is five years, Calculate depreciation for the second year using the double-declining-balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) A) $204,000 B) $172,000 C) $344,000 D) $244,800 12) Carpenters, Inc., a manufacturing company, acquired equipment on January 1, 2017 for $530,000. Estimated useful life of the equipment was seven years and the estimated residual value was $14,000. On January 1, 2020, after using the equipment for three years, the total estimated useful life has been revised to nine total years. Residual value remains unchanged. The company uses the straight-line method of depreciation. Calculate depreciation expense for 2020. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $50,476 B) $49,143 C) $58,889 D) $57,333