A company bought a piece of equipment for $49,200 and expects to use it for eight years. The company then plans to sell it for $5,400. The company has already recorded depreciation of $42,632.60. 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 O $1,167. a $11,300. $19,200. a O $1.642