A machine is purchased on January 1, 2014, for $120,000. It is expected to have a useful life of ten years and a residual value of $20,000. The company closes its books on December 31. Under the double-declining balance method, what is the total amount of depreciation to be expensed during the 2015 fiscal year (year 2 of 10)?

$19,200 $24,000 $60,000 $96,000