Aggie Azzi purchased a boat at a cost of $12 000. The boat has an estimated residual value of $2 000 and an estimated life of five years, or 100 000 hours of operation. The boat was purchased on 1 July 2020, and was used 27 000 hours in 2020/2021 and 26 000 hours in 2021/2022. If Aggie uses the reducing-balance depreciation method, at double the straight-line rate, what amount is the depreciation expense for 2021/2022?

The answer is 2880.