Benjamin, Inc. purchased equipment at the beginning of 2017 for $20,000. Benjamin decided to depreciate the equipment over a five-year period using the double-declining-balance method. Benjamin estimated the equipment's residual value at $5,000. Which of the following statements is correct concerning Benjamin's financial statements at December 31, 2017? Select one: A. The book value of the equipment is $12,000. B. The book value of the equipment is $8,000 C. The total accumulated depreciation is $5,000. D. Depreciation expense for 2017 is $3,000