Boring Books Corp. purchased equipment on January 1, 2010 for $75,000. The estimated useful life of the equipment is 5 years, the salvage value is $10,000, and the company uses the double-declining balance method to depreciate fixed assets. How much depreciation should the company record for the fourth year of the equipments life?

Group of answer choices

$6,480

$6,000

$5,616

$6,200