A company purchased equipment on January 1, 2022, for $830,000, estimating a five-year service life and $90,000 residual value. In 2022 and 2023, the company depreciated the asset using the double-declining-balance method. In 2024, the company changed to straight-line depreciation for this equipment. What depreciation would the company record for the year 2024 on this equipment?

Note: Do not round your depreciation rate.

Multiple Choice

$97,333

$170,000

$104,000

$69,600