ABC Company purchased equipment for $96,000 and estimated that the equipment will have a $8,000 residual value at the end of its 8-year useful life. Using the double-declining balance method, the depreciation expense for the third year would be Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. $11,000 b b $12,375 $13,500 d $18,000