A company bought a piece of equipment for $40,700 and expects to use it for eight years. The company then plans to sell it for $4,500. The company has already recorded depreciation of $35,267.21. Using the double-declining-balance method, what is the company's annual depreciation expense for the upcoming year? (Round your answer to the nearest whole dollar amount.) Multiple Choice 0 $1,358. 0 $9,250. 0 $933. 0 $10,700