Bloom and Cut Company purchased a new van for their deliveries on January 1, 2019. The van cost $56,000 with an estimated life of 5 years and $14,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the balance of the Accumulated Depreciation account at the end of 2020?

$13,440

$35,840

$8,960

$26,880