33. Sydney Co. purchased a machine that was installed and placed in service on January 1, Year 1, at a cost of $480,000. Salvage value was estimated at $80,000. The machine is being depreciated over 10 years by the double-declining-balance method. For the year ended December 31, Year 1, what amount should Sydney report as depreciation expense? A. $96,000 B. $76,800 C. $64,000 D. $61,440