Cathy Company purchased equipment that was installed and placed in service on January 1, Year 1 at a cost of $500,000. Salvage value was estimated at $80,000. The equipment is being depreciated over five years by the double-declining-balance method. What is depreciation expense for the second year of the asset's life? $100,800 $200,000 $168,000 $80,000 O $120,000