24. On January 1, 2009, Kais Inc. purchased a piece of equipment at a cash cost of $225,000. The estimated useful life is 5 years and the estimated residual value is $25,000. Assuming Kais Inc. uses the double declining balance method of depreciation, calculate the book value of the equipment on December 31, 2010? A) $144,000 B) $25,000 C) $160,000 D) $81,000 E) $65,000