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Blossom Corporation purchased factory equipment that was installed and put into service on January 2, 2022, at a total cost of $71000. Residual value was

Blossom Corporation purchased factory equipment that was installed and put into service on January 2, 2022, at a total cost of $71000. Residual value was estimated at $4300. The equipment is being depreciated over 5 years using the double-declining-balance method. For the calendar year 2023, Blossom should record depreciation expense on this equipment of

$17040.

O $28400.

$13340.

O $66700

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