A machine is purchased on January 1, 2021, for $112,000. It is expected to have a useful life of ten years and a residual value of $16,000. 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 2022? Multiple Choice $48,000 $22,400 $17,920 $89,600

A machine is purchased on January 1,2021 , for $112,000, it is expected to have a useful life of ten years and a residual value of $16,000. The company cleses its books on December 31 . Under the double-declining balance method, what is the total amount of depreciation to be expensed during the 2022? Multiple Choice 548,000 $22,400 $17,920 $89.600