3. ABC Company purchased equipment on January 1, 2009 for $70,000. It was estimated that the equipment would have a $5,000 salvage value at the end of its 5-year useful life. It was also estimated that the equipment would produce 100,000 units over its 5-year life. If the company used the double-declining balance method of depreciation, what was the balance of the Accumulated Depreciation of the equipment at December 31, 2011? * (T (3 Points) $44,800 $54,880 $56,480 some other amount 1 ARCom adming in 2017 It was