A company purchased factory equipment for $670,000. It is estimated that the equipment will have a $73,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be O $119,400 O $160,800 O $238,800 O $107,200 O $268,000 On September 1, 2030, Tampa Company places a new asset into service. The cost of the asset is $215,000 with an estimated 5-year life and $25,000 salvage value at the end of its useful life. What is the depreciation expense for 2030 if Cottonwood Company uses the straight-line method of depreciation? O $38,000 O $12,667 O $14,333 O $43,000 $25,000