Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $124,000. The asset is expected to have a salvage value of $15,600 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's book value on December 31, Year 2 will be: $35,316 $26,784 $66,960 $111600 $23,544