A corporation using the double-declining-balance method of depreciation purchased a new machine on January 1, 2016. The machine cost $200,000, had an estimated useful life of 8 years and $25,000 residual value at the end of its useful life.

Use the information above to answer the following question. What is the balance of the Accumulated Depreciation account at the end of 2017?

$37,500

$112,500

$50,000

$87,500